Bitcoin Will Go to Zero Someday, Anticipation of Renowned Investor Jim Rogers

He said, “I’m very skeptical about crypto. It may be great for some people right now but it’s not for me. I don’t see any long-term value in cryptocurrencies. I believe in real things that people can Can use rice and sugar. I don’t know that bitcoin will always have value.” Rogers started the Quantum Fund along with billionaire George Soros.

Rogers is also skeptical of Bitcoin’s ability to become an alternative to safe assets such as gold and silver. He said, “I don’t think Bitcoin will be able to replace gold and silver. Most people in the world understand gold and silver but most do not understand bitcoin.” Rodgers stated that he does not own Bitcoin or any other cryptocurrency. In India too, the central government continues to have a strict attitude towards cryptocurrencies. Rules are being made for this segment in the country. Recently, Finance Minister Nirmala Sitharaman had said that cryptocurrencies are not considered or seen as ‘currency’ in the country.

On the question of change in the government’s attitude towards this sector after the boom in the crypto market, Sitharaman had said, “The government has always believed that the assets created around crypto should be used as assets for trading and many other things.” “They can be used as currencies. We have not regulated them. This is the position of the central government.” There has been a lot of growth in the crypto market after the Bitcoin Spot ETF got approval from the securities regulator in America. Funding in these ETFs is continuously increasing. This week the price of Bitcoin also reached more than $73,700, which is its high price.