Investing legend Jim Rogers has warned investors that crypto assets could one day be completely controlled by governments.
in a new interview Rogers said via Bloomberg Crypto that digital currencies will one day be “government money,” meaning bureaucrats and politicians will decide how to spend them.
“A lot of people I know are investing in cryptocurrencies, having fun and making money. Many have disappeared and gone to zero.
My wife invests in cryptocurrencies for everything but I don’t invest in them because the bulls say there will be money and my answer to this is that if all our money was on our computers it would be government money .
When the US government says ‘well, this is money’ and every government is looking at cryptocurrency, they don’t say ‘this is money, but if you want to use it [other] Money, you can use that money.
This is not what bureaucrats think. This is not what politicians think. They want control. They want to regulate everything. ”
However, Rogers noted that as long as the digital asset is being used as a trading tool, he is less concerned, although he said he would not be involved even in that case.
“In my opinion, if they’re just trading tools, that’s okay, go for it… [but] I don’t do it. ”
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