Investing legend Jim Rogers is issuing a warning to investors saying that crypto assets could one day be fully controlled by the government.
In a new interview with Bloomberg Crypto, Rogers says that digital currencies will one day become “government money,” meaning that bureaucrats and politicians will dictate how they can be used.
“A lot of people I know are investing in crypto and having fun and making money. Many have already disappeared and have gone to zero.
My wife has invested in crypto of all things, but I don’t invest in them because the bulls say there’s going to be money, and my answer to that is, if and when all our money is on our computer, it’s going to be government money.
When the US government says ‘Okay, this is money now,’ and every government is working on crypto money, they’re not going to say ‘This is money, but if you want to use that [other] money, you can use that money.’
That’s not the way bureaucrats think. That’s not the way politicians think. They want control. They want to regulate everything.”
However, Rogers notes that he’s not too concerned about digital assets as long as they are being used as trading vehicles, although he says he still wouldn’t participate even in that context.
“In my view, if they’re just trading vehicles, fine, have at it… [but] I’m not doing it.”
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