The renowned investment guru who earlier said that Bitcoin was in a bubble in 2017, has now speculated that all cryptocurrencies will be gone eventually.
Within an interview with the Asahi publication AERA dot on 19th June, investor Jim Rogers added that cryptocurrencies including Bitcoin [BTC] “will be in downfall eventually and everything will collide to zero.”
“Those who use cryptocurrencies think they’re smarter than their govt.,” Rogers told AERA dot. “In fact, i feel they’re correct. But their governments have something that crypto users don’t have.., that’s guns. The reason why i feel cryptocurrency will be gone eventually is that it’s not supported by the armed force of governments’ power.”
There has been some unproven link between the rising and falling prices of cryptocurrencies as well as the governments acting more authoritarian. Earlier also, when Donald Trump ordered the forced dispersal of peaceful protesters near the White House grounds on 1st June 1, the net worth of Bitcoin surged by over 8 PerCent.
Cryptocurrencies Is Alike ‘Just Gambling’
As reported earlier in 2017, Rogers said BTC “looks and smells” sort of a bubble. This was before the cryptocurrency reaching its all-time high price of over $20 USD in December 2017. He said:
”[…] cryptocurrencies didn’t even exist a couple of years ago, but within the blink of an eye they became 100 and 1000x times more valuable. This is a clear bubble and i do not know the exact right price. Virtual currency isn’t an investment target. It’s just gambling.”
Along with billionaires like Warren Buffett and George Soros, Rogers is taken into account one among the major investors within the world. His views within the AERA dot interview echo those of Buffett, who said “cryptocurrencies basically don’t have any value” earlier in February.