Veteran Investor Jim Rogers More Optimistic On Cryptocurrency Future Than CBDC

Legendary investor Jim Rogers shares his views on the future of CBDC crypto and digital money. (News Plus)

JAKARTA – Veteran investor, Jim Rogers is a former business partner of George Soros. He co-founded Soros Fund Management. He shared his views on cryptocurrencies and the US dollar to the Economic Times.

In the midst of hectic criticism from the central bank against cryptocurrencies, Roges regretted the massive printing of money carried out by the central bank.

“There is still a huge amount of money being printed around the world. One should not listen to these people. They rarely tell the truth... The US Fed has more than doubled their balance sheet in a very short period of time,” Rogers said.

"Even if they reduce (money printing) for a while, it won't be enough to make up for the massive money printing that has taken place."

Furthermore, Rogers stated that "the US is the largest debtor country in the history of the world and right now the world is looking for something to replace or compete with the US dollar."

Apart from discussing the US dollar, he also talked about cryptocurrencies during the interview. When asked if he owned Bitcoin, Rogers replied that he wished he had bought it for $1.

Next he discussed central bank digital currencies or CBDCs. Regarding government-created digital money, Rogers said: “I don't have great faith in the future of government digital money that all governments are working to put money on computers. It will be their money."

“I have optimism about the future of cryptocurrency but not government cryptocurrency (CBDC). The government does not like competition. They like to maintain their monopoly,” Rogers added.

Furthermore, Rogers saw what the government might do with cryptocurrencies. “If cryptocurrencies become successful, most governments will ban them, because they don't want to lose their monopoly,” he added, quoted by Bitcoin.com News.