Legendary investor and chairman of Rogers Holdings, Jim Rogers, was recently interviewed by China Money Network about the current state of artificial liquidity.In the interview, the journalist asked him if he was holding any virtual currencies, and he regrets having missed out on the best bitcoin investment opportunity.
Rogers declared "I was not clever enough to invest in Bitcoin" and stated: “No, I never learned enough about it. If I were smart, I would have bought it in the early days when people first told me about it. I still don’t know enough about it to invest in it.”Jim Rogers also said that if he learns more about Bitcoin and the price is right, that he may invest some effort in it.
Rogers added that there is possibility that a new form of currency can become more popular than the US dollar. He says:“The U.S. dollar has dominated the world for the past 70 to 80 years. Somebody is going to stop using the dollar eventually.
We need something to compete with the U.S. dollar, and something to replace it eventually. Whether it’s the bitcoins, the RMB or seashells, I have no idea.
”Even the most powerful of concepts are replaced in time. The dollar has been dominant for almost a century, but with the 21st century’s dawn of the digital age, people need a currency that can keep up with everyday life. The dollar had a great run, but all good things must come to an end.Jim Rogers has changed his opinion about Bitcoin and he is adopting a more positive stance than before. He recognized the need for a digital money to compete with fiat currencies, as he has strong concerns about inflation.
Rogers says that his biggest fear about today’s economy is how banks print out vast amounts of money. His concern is that with America, Japan and Britain printing money, economies are given temporary solutions which will later on effect the global economy.Though bitcoin is thought of as the be all end all of solving the world’s financial problems by many enthusiasts, the truth is if it does take over modern currencies, it will only be around until something even better comes along.
