Jim Rogers said that BTC will go down to zero eventually đ€Ż
Jim Rogers, the renowned investor who co-founded the Quantum Fund with George Soros, remains unimpressed of the enduring value of cryptocurrencies, including bitcoin.
"Iâm very skeptical of crypto. I donât expect it to last. Itâs been fabulous for some people now. Not for me, but I do not see any long-term value in cryptocurrency," said Rogers.
Rogers favors physical assets such as rice or sugar over bitcoin, citing greater confidence in their sustained worth. He argues that while commodities like sugar will always hold value, bitcoin lacks this assurance, and he cast that BTC value eventually down to zero.
Despite bitcoin's significant rise recently, Rogers still questioning its value comparing BTC to traditional safe-haven assets like gold and silver. He discloses that he does not own any bitcoin or other cryptocurrencies.
Rogers has consistently been a skeptic of cryptocurrencies. In 2021, he voiced concerns over the possibility of governments banning them, and in 2022, he pointed out governments' intentions to impose strict regulations. His skepticism extends to bitcoin's viability as a widely accepted currency.
Additionally, Rogers has issued cautions regarding the future of the U.S. dollar, anticipating its continued depreciation and the emergence of alternative reserve currencies, such as the Chinese yuan.
What do you think?
Is he speaking the truth, or is he just an old man left behind by the Bitcoin bullet train?
