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One of the prominent names in the industry and legendary investor — Jim Rogers – recently issued a warning against crypto investments. Rogers warned that the government is very likely to get complete control over the crypto assets.
Rogers was speaking at Bloomberg Crypto and put this warning during the interview. The investing legend said that today what we know as digital currencies will soon become known as ‘government money one day. This would mean that bureaucrats and politicians would take control over these assets and they would dictate their usage.
Rogers said that he knows so many people who are currently making investments in crypto assets and having fun while making money from them. However, he says that many have disappeared already and reached zero.
Investing legend took the instance of his wife who invested in crypto assets. However, he admitted that he does not own any crypto. He sought the reason for this that apparently bulls think that these assets would make lots of money in the future that he also thinks to be right but with skepticism. Rogers thinks that regardless of how much money he would make, it is going to stay in people’s computers and soon the government would take over the whole money.
Rogers put it this way that there will be a day when the US government would say that crypto is money now. Since every other government around the globe is working towards cryptocurrencies, they are surely not going to admit that digital assets are the money and if someone wished to use money other than that, they can use them too.
Rogers countered this by saying that this is not how bureaucrats and politicians think. They want control and regulation over almost everything they can, he added. He does not have too many concerns regarding crypto assets, at least till they are being used for trading and investing purposes.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
