- Some people still believe in cryptocurrency
- Jim Rogers says Bitcoin will decrease to zero and vanish
- Rogers gave his reason for calling the disappearance of cryptocurrency
Bitcoin News Today – Not everyone is on the side of Bitcoin (BTC) since it emerged. When Bitcoin came into the digital space, many did not believe in it. Some called it a scam project, while others said it was just a pyramid scheme. However, the performance of the digital currency over the past ten years have changed the mind of many, with many bearish commentators turning bullish.
Nevertheless, not everyone is still convinced, as some still believe that Bitcoin will amount to nothing. One of those that are still predicting the demise of Bitcoin is Jim Rogers – an investment guru.
Bitcoin (BTC) Price Today – BTC / USD
Bitcoin Will Eventually Drop to Zero and Disappear – Jim Rogers
Jim Rogers – an investment guru – believes that Bitcoin is still in a bubble and the digital currency will eventually plunge to zero and disappear. Rogers said that the world’s most dominant digital currency was in a bubble as early as 2017, and he recently said that all digital currencies would be gone sooner or later.
In a recent interview with Asahi publication AERA dot, the investment guru said that all digital currencies, including Bitcoin, “will drop eventually and everything will go to zero.” During the interview, he said:
“Those who use digital currency think they are smarter than their governments. In fact, I think they are correct. However, their governments have something that digital currency people do not have, and that is guns. I believe digital currency will drop to zero eventually because the digit currency is not based on the armed force of governments’ power.”
There are a series of unproven correlation between the falling and rising prices of digital currencies and government acting more authoritarian. When the President of the United States – Donald Trump – ordered the forced dispersion of peaceful protesters close to the White House on June 1, the price of the digital currency surged by over 8 percent.
Bitcoin Looks and Smells like a Bubble – Jim Rogers
Back in November 2017, the investment guru said that Bitcoin “looks and smells” like a bubble. This was before the benchmark digital currency tested its all-time high of about $20k in December 2017. Rogers said that digital currency is just gambling. He said:
”[…] cryptocurrencies didn’t even exist a few years ago, but in the blink of an eye they became 100 and 1000 times more valuable. This is a clear bubble and I don’t know the right price. Virtual currency is not an investment target. It’s just gambling.”
Rogers is one of the world’s largest investors, alongside billionaires like George Soros and Warren Buffett. His views are also similar to that of Buffett, who said that digital currencies have no value.