Jim Rogers Downplays Bitcoin as Currency Threat

Veteran investor Jim Rogers does not see Bitcoin as a threat to government currencies. In a recent interview, Rogers explained he views Bitcoin mainly as a trading vehicle, not a currency that could displace the U.S. dollar or other legal tenders. 

While acknowledging growing Bitcoin adoption, Rogers is skeptical it will be widely accepted as money, except perhaps in El Salvador which has a small population. He does not foresee cryptocurrencies becoming globally mainstream currencies since governments would likely resist such competition.

Furtheermore, Rogers predicts widespread central bank digital currency (CBDC) adoption by governments worldwide. However, he raised concerns about increased surveillance potential with CBDCs, noting governments would have comprehensive access to individuals’ financial activities. 

His worries echo recent comments from Donald Trump, who pledged not to support CBDCs if elected in 2024, citing personal freedom concerns. A related House Financial Services Committee bill also aimed to curb potential CBDC surveillance overreach. 

While digital currencies will spread, according to Rogers, questions remain around government oversight and privacy.

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