![\"Quantum](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2021\/04\/jim-rogers-768x432.jpg\")
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Veteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, is still worried about governments outlawing bitcoin and other cryptocurrencies. \u201cIf cryptocurrencies become successful, most governments will outlaw them, because they don\u2019t want to lose their monopoly,\u201d he said.<\/strong><\/p>\n Renowned investor and George Soros\u2019 former business partner who co-founded of the Quantum Fund and Soros Fund Management, Jim Rogers, still believes that the government can ban bitcoin and other cryptocurrencies.<\/p>\n Noting that he \u201cnever bought or sold any cryptocurrencies,\u201d Rogers told Kitco News\u2019 Michelle Makori last week:<\/p>\n If cryptocurrencies become successful, most governments will outlaw them, because they don\u2019t want to lose their monopoly.<\/p>\n<\/blockquote>\n \u201cEvery government in the world is working on computer money now, including the U.S. The Chinese are there already. I cannot imagine that governments are going to say \u2018ok, this is our crypto money, or you can use their crypto money.\u2019 That\u2019s not the way governments work, historically,\u201d he opined.<\/p>\n Rogers added: \u201cMoney is going to be on the computer. It already is in China. In China, you can\u2019t take a taxi with money. You have to have the money on your phone, you can\u2019t even buy ice cream. So it\u2019s happening, but I doubt if it\u2019s going to be someone else\u2019s money. History shows it will be government money.\u201d<\/p>\n He believes that the biggest threat to bitcoin is government regulation \u201cif it becomes successful,\u201d but not \u201cas long as it remains a trading vehicle.\u201d<\/p>\n The Quantum Fund co-founder further noted:<\/p>\n I know guys that are making a lot of money trading it, it\u2019s a wonderful trading vehicle, apparently. But, if it becomes a currency, which is what the crypto people say that it will be, I cannot imagine that any government, or many governments, in the world will say \u2018ok, you can use our money, or their money.\u2019 That\u2019s not what history shows.<\/p>\n<\/blockquote>\n <\/ins> <\/ins> <\/p>\n Commenting on the Federal Reserve Chairman Jerome Powell comparing<\/a> bitcoin to gold in terms of how they are both used for speculation, Rogers agreed that people are using both as trading vehicles. However, he added that history would indicate that silver and gold would probably have a better future than cryptocurrencies because they are not trying to compete with the dollar or other sovereign currencies.<\/p>\n Rogers is not the only one who has warned about governments stepping in and outlawing cryptocurrencies. Others include Bridgewater Associates founder Ray Dalio<\/a>, The Big Short\u2019s Michael Burry<\/a>, and Ron Paul<\/a>.<\/p>\n However, many people also said that governments cannot outlaw bitcoin. A commissioner with the U.S. Securities and Exchange Commission (SEC), Hester Peirce, recently said that governments would be \u201cfoolish<\/a>\u201d to try to ban bitcoin and that banning it would be like shutting down the internet. In addition, she said<\/a> that \u201cit\u2019s very difficult to ban something that\u2019s essentially a peer-to-peer technology.\u201d<\/p>\nJim Rogers Still Worried About Government Banning Bitcoin<\/h2>\n
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