The investment guru, who claims that Bitcoin has been in a bubble since 2017, recently speculated that all cryptocurrencies will disappear.
In an interview with Asahi’s June 19 publication AERA dot , investor Jim Rodgers said cryptocurrencies, including Bitcoin , ” will decline over time and reach zero.” ”
“Those who use cryptocurrencies think they are smarter than their governments,” Rodgers told AERA dot. “In fact, they are right. But their governments have something that crypto people don’t have. And these are weapons. The reason I think cryptocurrencies will disappear over time is because they are not based on the armed forces of governments. ”
There is an unproven correlation between the ups and downs of the price of cryptocurrencies and the authoritarian behavior of governments. When Donald Trump ordered the dispersal of protesters around the White House on June 1, the price of Bitcoin jumped by more than 8%.
In November 2017, Rodgers said Bitcoin ‘ looks and smells ‘ like a bubble. This happened before BTC jumped to $ 20,000.
“… cryptocurrencies did not exist until a few years ago, but in an instant they became 100 and 1000 times more valuable. This is an obvious bubble and I don’t know what the right price is. Virtual currency is not an investment goal. It’s just gambling. “