The investment guru who said Bitcoin was in a bubble as early as 2017 recently speculated that all cryptocurrencies would eventually disappear.
"Those who use cryptocurrency think they are smarter than their governments," Rogers told AERA dot. "In fact, I think they are right. But their governments have something that cryptographers do n't have . They are firearms. The reason I think cryptocurrency will eventually disappear is that it is not based on the armed force of government power. "
There is an unproven correlation between rising and falling prices of cryptocurrencies and more authoritarian governments. When Donald Trump ordered the forced dispersal of peaceful protesters near the White House grounds on June 1, the price of Bitcoin jumped more than 8%.
Crypto is just a game
“[…] Cryptocurrencies did not even exist a few years ago, but in the blink of an eye, they became 100 and 1000 times more precious. It's a clear bubble and I don't know the right price. Virtual currency is not an investment objective. It's just a game. ”
With billionaires like Warren Buffett and George Soros, Rogers is considered one of the biggest investors in the world. His views in the AERA interview echo those of Buffett, who said that “cryptocurrencies are basically worthless” in February.