Jim Rogers, a well-known investor known as "commodity king", recently warned that if cryptocurrency succeeds, most governments will ban cryptocurrency because they do not want to lose their currency monopoly.

Bitcoin.com, an authoritative blockchain cryptocurrency website, reported on Monday (April 26) that Rogers still worried that the government would ban bitcoin and other cryptocurrencies. Rogers and billionaire George Soros co founded the quantum fund.

According to reports, Rogers told kitco news last week that he "never bought or sold any cryptocurrency.". "If cryptocurrencies succeed, most governments will ban them because they don't want to lose their monopoly," he said

Rogers pointed out that governments around the world, including the United States and China, are studying cryptocurrency. "I can't imagine the government saying," well, this is our cryptocurrency, and you can use their cryptocurrency. "Historically, this is not the way the government operates.".

He believes that the biggest threat bitcoin faces is government regulation, on the premise that "if it succeeds", but "as long as bitcoin is still just a trading tool", it will not face a threat.

"I know people who make a lot of money by trading bitcoin, which is obviously a good trading tool," Rogers said. But if bitcoin becomes a currency, as many cryptocurrency enthusiasts say, then I can't imagine any government in the world will allow that to happen. "

US Federal Reserve Chairman Jerome Powell recently compared bitcoin with gold, saying that both are seen as speculative trading tools.

Rogers agreed. People are using both as trading tools, he says. However, Rogers added that history will show that silver and gold are likely to have a better future than cryptocurrencies because they do not try to compete with the US dollar or other sovereign currencies.

(2021-4-29)