Quantum Fund’s founder Jim Rogers, who is a big-time investor, is obstinate that governments world over would soon be outlawing Bitcoin as well as all cryptocurrencies. He is of the view that the government’s monopoly is under attack with the success and growth of Bitcoin and the crypto industry.
Quantum Fund, whose full name is “Quantum Fund and Soros Fund Management”, was originally founded by Jim Rogers along with his partner George Soros. He is an acclaimed American investor but has never invested a dime into either Bitcoin or cryptocurrencies.
He is one of those influential people who are obstinate that sooner or later Bitcoin and the crypto industry will be outlawed by governments.
The entrepreneur was being interviewed last week by Michelle Makori of Kitco News. During his interview, he revealed that in his entire life, he had never invested a penny into either Bitcoin or any other crypto asset. However, he described his viewpoint on Bitcoin’s future ahead and said that governments are secretly working on outlawing the crypto industry as a whole. He said that for centuries, Empires and presently, the world governments have successfully kept intact their monopolies over economies. However, with the success of Bitcoin and the crypto industry, this global monopoly is under attack and threat of being jeopardized.
He expressed that at the present moment almost every government of the world is exploring the possibility of launching computer money. He referred to China to state that it already China took a lead from its traditional rival i.e. USA in terms of launching its CBDC. He explained that China’s struggle to adopt computer money was the successful one. If one were to hire a taxi, the passenger is equipped with the option to pay either in cash or through computer money. Digitalization is apparent in each field and every corner of China said, Rogers.
Now the US too is on the mission of launching its own CBDC in the near future, suggested Rogers. But according to him when every country will be able to launch its own CBDC then they won’t be able to appreciate other CBDCs. He said that this isn’t the way how the financials work in every government. Instead, every government prefers that their currency should be adopted.
He was of the view that there is an imminent risk to Bitcoin and that risk does not come from within. Instead, the Bitcoin risk is expected from the bureaucracy i.e. the government and its authorities. He thinks that when governments are able to bring forth, the so-called “comprehensive crypto regulation”, it would be the end of Bitcoin. He argued that however, the delay is because the governments see crypto assets as an instrument of trading. But when crypto will become an official “currency”, then it will become a major problem for the governments.