Soros Fund Management co-founder Jim Rogers shared his thoughts on the impact of Bitcoin on government currencies, saying that Bitcoin does not threaten traditional financial systems.

Jim Rogers argues that despite Bitcoin's growing popularity, the cryptocurrency does not pose a significant threat to traditional financial systems and will not be able to take control of monetary policy from governments. If cryptocurrencies posed a real threat to government currencies, authorities around the world would have taken drastic measures against Bitcoin long ago.

“Despite its decentralized nature, Bitcoin is not capable of undermining the financial sovereignty of countries,” Rogers said.

An American entrepreneur mentioned the adoption of Bitcoin in El Salvador as legal tender. He called this an isolated incident, as other countries have not followed El Salvador's example, except for the Central African Republic (CAR), which legalized Bitcoin in 2022. Therefore, the adoption of Bitcoin as a means of payment will be limited, Rogers is sure.

The head of Soros Fund Management has suggested that central bank digital currencies (CBDCs) will become quite common in the future. Their emergence will be inevitable as government stablecoins become more convenient for both organizations and individual users. However, Rogers is concerned that digital currencies could allow governments to track financial transactions, raising questions about privacy.

Previously, Rogers criticized cryptocurrencies, calling Bitcoin a bubble, but due to the policies of the US Federal Reserve System (FRS), he began to change his attitude towards them. In 2022, an investor said that if Bitcoin were worth less than $5 per coin, he would certainly take advantage of this opportunity and buy it.

Source - Bits.Media

Jim Rogers: “Bitcoin is not capable of undermining the financial sovereignty of countries”