Jim Rogers is optimistic about Bitcoin but fears it may be banned

Jim Rogers is optimistic about Bitcoin, but fears it may be banned - Jim Rogers bitcoin 1024x576It looks like bitcoin is the hottest asset in town right now, given the way legions of new retail investors and big Wall Street companies are buying it, at an astonishing rate.

For many, the recent bull run that has seen the price of bitcoin firmly approach $ 60.000 is an indication that the digital currency should be bought to make money from future bulls - that there will be, one only needs to understand when.

A common sentiment among many bitcoin enthusiasts is a desire to have bought bitcoin in its early days, when the digital asset had a quotation very low and had a much higher profit margin. It now appears that Jim Rogers, a veteran investor of this world, is among those who regret this matter.

Rogers' regret

Recently, Jim Rogers was interviewed by RealVision where he was asked some questions about the current state of the investment world. In the interview, he expressed regret that he had not bought bitcoin earlier as the asset is one of the few digital assets that has stood the test of time.

“I wish I had bought bitcoin. I note that many cryptocurrencies have already disappeared and are now quoted at zero. We have all heard of bitcoin. You don't hear about the dozens of altcoins that no longer exist, ”he said.

While optimistic about bitcoin, Rogers believes governments around the world will work to outlaw digital currency if it becomes too powerful as a medium of exchange compared to a traditional investment vehicle in order to retain their control.

“If bitcoin ever becomes a viable currency rather than a commercial vehicle, they can outlaw it. Governments do not want to lose control of the currency; they like monopoly. Do you think they'll say, "OK, here's the US dollars, and they're on the computer, but if you want to use something else, you can do it"? In reality this is not the experience I have with governments and at any other time in history, ”he continued.

The development of own digital currencies

Since bitcoin and other cryptocurrencies have become so popular, various governments around the world have moved forward with the development of their own national cryptocurrencies. Among the governments we know those of France, China, Canada and the Bahamas. Many believe this is the real attempt to prevent privately issued cryptocurrencies from becoming too dominant in terms of daily use.

Bitcoin, ironically, was created in part just as a response to the global economic crash of 2008, in which millions of people around the world faced financial hardship.

Several clues left in the original bitcoin documents suggest that Satoshi Nakamoto, the creator of the world's first digital currency by market cap, was critical of the government and the financial elite that rules the world.