Senior investor Rogers: BTC cannot become a currency and the US economy will decline

Author: Jamie Redman, Bitcoin.com; Compiler: Deng Tong, Golden Finance

• Jim Rogers, the head of Rogers Holdings Inc., shared in a new interview his observation of “all the signs of trouble coming” in the U.S. — and that the economy is about to The coming recession. Additionally,Rogers discussed leading crypto asset Bitcoin, highlighting his skepticism about the cryptocurrency evolving into an actual currency. He emphasized that if they pose a real challenge to traditional fiat currencies, the government will not tolerate them.

Famous investor Jim Rogers predicts recession - 'I'm worried I'm seeing signs'

2024 2 On March 1, Jim Rogers was interviewed by Kitco News anchor and editor-in-chief Michelle Makori, discussing the U.S. economy in depth, especially investment strategies, and briefly discussed Bitcoin. Rogers shared with Macori his expectations for a market downturn, even as U.S. stocks have reached unprecedented peaks in recent years. He firmly believes that the coming recession will exceed any he has witnessed in his lifetime.

“We had a big problem in 2008, but since then debt has skyrocketed everywhere,” Rogers said. "So the next recession has to be the worst in my lifetime because the debt is much higher now than it has ever been in my lifetime." Rogers explained to Macori, TheUSD has been in turmoil lately, and many people still look to cash, especially the U.S. dollar, as a refuge. He further emphasized:

The U.S. dollar is no longer a sound currency. We are the largest debtor nation in the history of the world. But everyone thinks it's a sound currency, they think it's a safe haven. So when problems arise, people rush to safe havens.

Bitcoin does not pose a threat to government currencies - "it is just a trading tool"

In the second part of the conversation, Marcori asked Rogers about his views on Bitcoin, especially after the U.S. Securities and Exchange Commission (SEC) gave the green light to a number of spot Bitcoin exchange-traded funds (ETFs), and Marcori reflected on his Previous Statement: Governments will ban Bitcoin. "Well... I want to be clear,I don't think cryptocurrencies will become currencies because governments don't want that kind of competition," Rogers stressed.

The business tycoon added:

“I don’t think it’s legal tender anywhere except El Salvador, but El Salvador only has a population of 6 million, so I don’t think that’s going to change. world. I don’t own any cryptocurrencies. I have never, I have never shorted any [cryptocurrency]. I mean, I wish I had bought it when it was a dollar, I wish I had bought it in 1914 Just bought IBM.”

However, Rogers insists that if crypto assets pose a real threat to the government, they will not stand idly by. "That's not how it works in Washington or London or anywhere else," Rogers quipped. To date, Rogers believes that cryptocurrencies such asBitcoin (BTC) do not pose a “threat” to state-issued currencies but are merely a “trading tool.” At the end of Rogers’ interview, Macori askedhis stance on central bank digital currencies (CBDCs), a concept he emphasized that governments are naturally very fond of.

“I fully expect money to eventually be on computers,” Rogers explains. "It's more efficient, it's cheaper, it's better for a lot of people, and the government likes it because, as you pointed out, they know everything you do. One day they'll call you and say 'Michelle , you drank too much coffee this month, stop drinking so much coffee... they'll know everything you do, they'll know everything we do, the government likes that, I don't particularly like it, I think it It's scary.  So they're going to do what they want, and I suspect one day money will be on computers."