Soros Foundation Co-Founder Reveals Regret About Not Investing in Bitcoin

American investor and co-founder of Soros Fund Management – Jim Rogers – has revealed he regrets not buying bitcoin more than a decade ago when the digital currency was trading in the one to one range. five bucks.

In an interview with Economic period, Rogers said that the current financial system will face serious problems over the next ten years. He therefore decided to buy gold and silver as soon as he saw that they were trading at a low price.

Rogers admitted that he doesn’t own bitcoin and regrets not buying the cryptocurrency when he was lucky enough to buy the asset for just $1. He also said he thinks the cryptocurrencies could play a vital role in the monetary network of the future and criticized coins. digital central bank

“I don’t own any cryptocurrency. I would have liked to buy Bitcoin at $1, at $5.

Interestingly, in 2020, the legendary investor claimed that investing in cryptocurrencies was essentially a gamble, predicting that the price of bitcoin would drop to zero.

the end of the dollar

Rogers noted that CBDCs will have a completely different purpose and will be used by central banks and governments to monitor people’s lives.

“I’m optimistic about the future of cryptocurrencies, but not government digital currencies…Governments don’t like competition, they like to maintain their monopoly.”

The famous investor was asked about the end of the US dollar and the future prospects of cryptocurrencies. Rogers is a former business partner of George Soros who co-founded the Quantum Fund and Soros Fund Management.

“I own US dollars partly because when trouble comes people look for a safe haven. They think the US dollar is a safe haven for historical reasons. began Rogers.

However, the veteran investor added:

But what is happening now with the US dollar is the end of the US dollar, because an international currency is supposed to be neutral, but in Washington they are changing the rules.

Since Russia began its invasion of Ukraine, the United States, along with a growing number of other countries, has imposed sanctions on Russia, on which Rogers commented:

“Now if Washington doesn’t like you, they impose sanctions on you and you can’t use US dollars,” he said.

“So a lot of countries are starting to look for a competitor – China or Russia or India, Iran, Brazil…some countries are starting to look for a competing currency, and they should because Washington is not playing more fairly.” He continued.

Rogers was also asked if cryptocurrencies could be an alternative to the US Dollar Index. He has answered: “Well, it could be. A lot of people have made a lot of money trading cryptocurrencies.

He explained that crypto bulls say cryptocurrencies will be the new money. “I know that every country in the world is currently working with computer money, including the United States”, he pointed out. However, he said the United States was not going to say it was fresh money.

Jim Rogers and Bitcoin

Rogers’ previous stance towards Bitcoin was not so positive. Almost two years ago, he said the distribution of wealth in the cryptocurrency market was “just a gamble”.

“If cryptocurrencies are successful, most governments will ban them, because they don’t want to lose their monopoly, every government in the world is currently working with computer money, including the United States.”Rogers told Kitco News last year.

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