Although Bitcoin hit a record high this month, legendary American investor Jim Rogers, who co-founded the Quantum Fund with "financial tycoon" (George Soros) and is known as the "commodity king", recently predicted that Bitcoin will eventually At zero, all cryptocurrencies will be gone.

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Jim Rogers, the legendary American investor known as the "Commodity King", poured cold water on the cryptocurrency craze in a recent exclusive interview with India Today. He said that he is very skeptical about cryptocurrencies and does not believe that cryptocurrencies will continue to exist. :

While it’s great for some people right now, it’s not for me and I don’t see any long term value in cryptocurrencies.

Rogers said that he has more confidence in real items that people can use than Bitcoin. It doesn’t matter whether it is rice or sugar. He knows that rice will always have value, but he doesn’t know whether Bitcoin will always have value:

Bitcoin will disappear and return to zero one day.
The value of sugar will not disappear or become zero one day.

Questioning whether Bitcoin will replace gold and silver

In addition, Rogers also questioned the ability of Bitcoin to replace safe-haven assets such as gold and silver. He said:

I don't think Bitcoin will replace gold, nor do I think it will replace silver. Maybe I'm wrong, maybe I should sell all my gold and silver and buy Bitcoin, but as far as I know, most people in the world understand gold and silver, but most people don't understand Bitcoin.

Rogers revealed that he personally does not hold Bitcoin or any other cryptocurrency, and when asked where he buys and sells gold or Bitcoin, he responded:

I have never bought Bitcoin, never sold or shorted Bitcoin, but I do hold a lot of gold, silver, and cryptocurrencies are obviously great trading tools in my opinion... but I expect they will all disappear one day, and many of them already have.

Rogers has long been a cryptocurrency skeptic, asserting in 2021 that Bitcoin is more dangerous than gold because it competes with existing sovereign currencies and is therefore likely to be targeted and restricted by governments.

What do you think about this statement? Welcome to discuss in the comment section!
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