![\"Renowned](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/08\/jim-rogers-crypto1-768x432.jpg\")
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Veteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, has warned about cryptocurrency, stating that \u201cif and when all our money is on our computer, it\u2019s going to be government money.\u201d Nonetheless, he noted that his wife invests in crypto.<\/strong><\/p>\n Famed investor Jim Rogers shared his view about cryptocurrency in an interview with Bloomberg, published last week. Rogers is George Soros\u2019 former business partner who co-founded the Quantum Fund and Soros Fund Management.<\/p>\n \u201cA lot of people I know are investing in crypto and having fun and making money. Many have already disappeared and have gone to zero,\u201d he began, elaborating:<\/p>\n My wife invests in crypto of all things, but I don\u2019t invest in them because the bulls say they\u2019re going to be money, and my answer to that is, if and when all our money is on our computer, it\u2019s going to be government money.<\/p>\n<\/blockquote>\n Rogers proceeded to explain that governments will not allow other currencies to compete with their currencies.<\/p>\n Pointing to his phone as an example of electronic money, the veteran investor opined: \u201cWhen the U.S. government says, \u2018okay, this is money now,\u2019 and every government is working on crypto money, they\u2019re not going to say: \u2018This is money, but if you want to use that [other] money, you can use that money.’\u201d<\/p>\n He stressed:<\/p>\n That\u2019s not the way bureaucrats think. That\u2019s not the way politicians think. They want control. They want to regulate everything.<\/p>\n<\/blockquote>\n \u201cIn my view, if they [cryptocurrencies] are just trading vehicles, fine, have at it. [But] I\u2019m not going to trade, I\u2019m not doing it,\u201d he concluded.<\/p>\n Rogers was asked if anything would change his mind about investing in crypto. He admitted that if things change then he will also have to change. For example, \u201cIf suddenly the euro is all denominated in crypto, well then I have to change,\u201d he said. However, Rogers noted that he doesn\u2019t see it happening.<\/p>\n This was not the first time that the Quantum Fund co-founder warned about governments coming after cryptocurrency. In April last year, he said governments could ban cryptocurrencies<\/a>. \u201cIf cryptocurrencies become successful, most governments will outlaw them, because they don\u2019t want to lose their monopoly,\u201d Rogers stressed. He also previously said<\/a>, \u201cvirtual currencies beyond the influence of the government will be eliminated.\u201d<\/p>\n In addition, he warned last month that more bear markets<\/a> are coming and the next one will be \u201cthe worst\u201d in his lifetime. Noting that many stocks will go down 90%, he cautioned that investors will lose a lot of money. He also predicted the end of the U.S. dollar<\/a>, fueled by the Russia-Ukraine war.<\/p>\nJim Rogers\u2019 Crypto Warning<\/h2>\n
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