The list of mainstream finance sharks joining the cryptosphere after several years of skepticism has grown again with the flip-flop of Jim Rogers. Famous American investor and in particular co-founder of Soros Fund Management, the interested party declared very recently that he regretted not having bought bitcoin ten years ago. Now convinced of bitcoin’s potential, he said the asset represents a suitable investment tool.
Optimistic about the future of bitcoin, but not that of CBDCs
It was through a recent interview with the Economic Times that Jim Rogers formalized his rallying to the cause of bitcoin and cryptocurrencies in general. The investor shared the experts’ view that bitcoin could serve as a hedge against inflation in the same way as gold, if not more. Although Mr. Rogers admitted to not owning any bitcoins at present, he regrets not having accumulated some 10 years ago. By his own admission, the leading cryptocurrency in the market was worth $1 at the time.
The co-founder of Soros Fund Management also predicted that cryptocurrency could play a vital role in the future monetary network. To this end, he criticized Central Bank Digital Currencies (CBDCs) which he believes will have a totally different purpose and will be used by governments to monitor the transactions of the people. ” So I have optimism about the future of cryptocurrency, but not government cryptocurrency…Governments don’t like competition, they like to keep their monopoly “, did he declare.
A position that has evolved over the years
It should be noted that Mr. Rogers’ previous stance on bitcoin was not so positive. In 2017, he went so far as to claim that bitcoin looks like every bubble in history. Almost two years ago, the person suggested that the distribution of wealth in the crypto market is just a gambling game, adding that BTC is overvalued and will eventually disappear. ” Cryptocurrencies didn’t even exist a few years ago, but in the blink of an eye, they’ve become 100 and 1,000 times more valuable. It’s an obvious bubble, and I don’t know the right price “, did he declare.
After publicly pledging allegiance to bitcoin, the next step for the co-founder of Soros Fund Management will be investing. Current price levels could also encourage it to take the plunge, with the cryptocurrency currently posting more than 50% down from its all-time high.
Source : CryptoPotato
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Luc Jose Adjinacou
Far from having dampened my enthusiasm, an unsuccessful investment in a cryptocurrency in 2017 only increased my enthusiasm. I therefore resolved to study and understand the blockchain and its many uses and to relay with my pen information relating to this ecosystem.