Investor Rogers expects most cryptos to die out, says some may survive as trading vehicles
https://sputniknews.com/20221212/investor-rogers-expects-most-crypto-to-vanish-says-some-may-survive-as-trading-vehicles-1105365154.html
Investor Rogers expects most cryptos to die out, says some may survive as trading vehicles
Investor Rogers expects most cryptos to die out, says some may survive as trading vehicles
WASHINGTON (Sputnik) – Legendary US investor Jim Rogers told Sputnik he believes most cryptocurrencies will eventually drop to zero and either die out or survive… 12.12.2022, Sputnik International
2022-12-12T03:04+0000
2022-12-12T03:04+0000
2022-12-12T03:04+0000
science and technology
cryptocurrency
jim rogers
bitcoins
ftx
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Crypto exchange operator FTX announced on Nov. 11 that it was filing for bankruptcy, sending Bitcoin and other notable digital currencies plummeting. US media reported last week that federal investigators were probing the FTX case on market manipulation grounds. …now on the computer, but if you want to use someone else’s money, you can. That’s not how governments think,” he added. “They like to control, they like monopoly…I guess we’ll have more problems and eventually they’ll go away.” Rogers said went on to say that if cryptos survive, they survive as commercial vehicles. Rogers does not see any potential threat or future for the instruments.” If I buy wheat and the wheat goes down a lot, at least I have some wheat that I can eat. But if I buy this stuff and it goes down, I can’t do anything with it,” he added. “I just sit here and watch and have nothing.” FTX was ruined after that rival digital exchange Binance walked away from a proposed acquisition and left it scrambling to raise an estimated $9.4 billion from investors and rivals a task it was not Since FTX’s announcement, BlockFi, a lender exposed to the failing exchange operator, has also filed for bankruptcy.Bitcoin hovered at 17,000 on Friday, down 64% on the The currency started at $0 in 2009, broke the dollar barrier in 2011. About a decade later, Bitcoin would hit an all-time high of $69,000. Rogers co-founded the Quantum Fund, which generated a return 4,200% between 1970 and 1980 while the S&P 500 gained 47%.Rogers said such returns are still possible if people do their homework. Formerly Chairman of Singapore-based Rogers Holdings and Beeland Interests, Rogers is also the author of several books, including “Investment Biker”, “Adventure Capitalist” and “Street Smarts”. .”
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cryptocurrency, jim rogers, bitcoin, ftx
cryptocurrency, jim rogers, bitcoin, ftx
WASHINGTON (Sputnik) — Legendary American investor Jim Rogers told Sputnik he believes most cryptocurrencies will eventually fall to zero and either disappear or survive only as trading vehicles.
Crypto exchange operator FTX announced on Nov. 11 that it was filing for bankruptcy, sending Bitcoin and other notable digital currencies plummeting. US media reported last week that federal investigators were probing the FTX case due to fears of market manipulation.
“I’m still skeptical about crypto, and expect most of it to die out and eventually drop to zero,” said Rogers, the creator of the Rogers International Commodity Index (RICIS). “Optimists say crypto will be money…money everywhere will be on the computer – but in my opinion it will be government money.”
Almost all governments are now developing crypto or computer currency, he added.
“I don’t think most governments will say ‘okay, it’s our money…now on the computer, but if you want to use someone else’s money, you can.’ That’s not how governments think,” he added. “They like to control, they like monopoly…I guess we’re going to have more problems and eventually they’ll go away.”
Rogers went on to say that if cryptos survive, they survive as commercial vehicles.
“I don’t think a lot of people are threatened by commercial vehicles and people want to buy or sell their stuff and have fun. Of course people have a lot of games that they play, commercial games, so it’s not than commercial vehicles,” he said.
Rogers sees no potential threat or future for the instruments.
“If I buy wheat and the wheat goes down a lot, at least I have some wheat that I can eat. But if I buy this stuff and it goes down, I can’t do anything with it,” said- he added. “I’m just sitting here and watching and I don’t have anything.”
FTX was ruined after rival digital exchange Binance walked away from an acquisition plan and left it scrambling to raise around $9.4 billion from investors and rivals, a task which he was not up to.
Since FTX’s announcement, BlockFi, a lender exposed to the failing exchange operator, has also filed for bankruptcy protection.
Bitcoin hovered at 17,000 on Friday, down 64% on the year. The currency started at $0 in 2009, broke the one-dollar barrier in 2011. About a decade later, Bitcoin would reach an all-time high of $69,000.
Rogers co-founded the Quantum Fund, which returned 4,200% between 1970 and 1980, while the S&P 500 gained 47%. Rogers said such comebacks are always possible if people do their homework.
Currently Chairman of Singapore-based Rogers Holdings and Beeland Interests, Rogers is also the author of several books, including “Investment Biker”, “Adventure Capitalist” and “Street Smarts”.
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