May 30, 2023

Investment legend Jim Rogers is warning investors that crypto assets could one day be fully controlled by the government.

In a new interview with Bloomberg Crypto, Rogers says digital currencies will one day become “government money,” meaning bureaucrats and politicians will dictate how they can be used.

“A lot of people I know invest in crypto and have fun and make money. Many have already disappeared and gone to zero.

My wife is invested in crypto of all things, but I don’t invest in them because the bulls say there will be money, and my answer to that is, if and when all our money is in our computer, it will be government money.

When the US government says “Okay, this is money now,” and every government is working on cryptocurrencies, they’re not going to say, “This is money, but if you want to use it [other] money, you can use that money.”

It’s not the way bureaucrats think. This is not the way politicians think. They want control. They want to regulate everything.”

However, Rogers notes that he isn’t too concerned about digital assets as long as they are used as trading vehicles, though he says he wouldn’t even get involved in that context.

“In my view, if they’re just marketing vehicles, fine, have at it… [but] I don’t.”

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Disclaimer: The views expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please note that your transfers and transactions are at your own risk and that any losses are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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