Reshab AgarwalInvestor Jim Rogers is optimistic about crypto’s future. He is the co-founder of Quantum Fund alongside the well-known billionaire George Soros. Jim’s optimism is placed in crypto, but he is not very sure about the future of Central Bank Digital Currencies. He thinks that the world is looking for something to replace the US dollar with, and it makes sense that a digital dollar won’t be that.
Jim Rogers on the US Dollar
Jim was recently interviewed by the Economic Times Markets, where he shared his views on cryptocurrencies and the US Dollar. He pointed out that money printing all across the world hasn’t stopped. This is a huge issue, as inflation is off the charts, and common people are suffering. Jim said, “One should not listen to these guys. They rarely tell the truth,” while pointing out the balance sheet of the Federal Reserve that has doubled in a very short period of time.
Image Source: OpIndia
The Federal Reserve cannot make up for the huge money printing with small interest rate hikes or other steps. This means the recession is only going to get worse. Therefore, Jim doesn’t like the US as the largest debtor globally, and the world is also looking to replace the USD with something else. He also said that during the Russia Ukraine war, the US took away Russia’s money. This is not appreciated by anyone, and such power only brings risks, and countries looking for ways to mitigate them.
Crypto
Jim Rogers said that he wishes he had bought BTC at $1 and $5. I guess we all wish for that. But he doesn’t own any cryptocurrency at present. So, it’s difficult to say how strongly he believes in the industry’s future. But Jim clearly said that he doesn’t believe in the future of CBDCs or government crypto as it will be their money. This makes sense as CBDC will be just like fiat in digital format. However, since the government likes to be a monopoly, it could ban all the competition, which includes Bitcoin. However, that step won’t be easy to implement.
What are your thoughts as Investor Jim Rogers is optimistic about crypto’s future? And do you think that the future of Central Bank Digital Currencies is bright? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Luxury Fashion brand Balenciaga now accepts Bitcoin.