Jim Rogers: Bitcoin is just another Investment Bubble

 Source : Marketwatch
At 75, veteran investor Jim Rogers remains as sharp and feisty as he was two decades ago when I first met him at Columbia Business School.
More importantly for investors in search of ideas — he’s just as opinionated.
Like him or not, Rogers is worth listening to because he has a respectable record. Sure, he makes mistakes. Most recently, he regrets not buying bitcoin ahead of its massive run-up, as a lot of people do (including me).
But he famously made a bundle alongside George Soros in the Quantum Fund. He also made a great call on commodities in the late 1990s when he turned bullish ahead of an extended bull run, and set up the Rogers International Commodity Index (RICI).
Given his experience and record — and all the uncertainties in the world — I recently checked in with Rogers in Singapore, on what to buy and what to avoid. Here are the highlights.

Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.

Jim Rogers : This is Why I am Bearish on Bitcoin

 Unfortunately I am afraid that the use of Bitcoin or any other digital currency will not be very successful because in the end governments are going to decide which electronic money you use.

Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.

Rogers : I’m not knowledgeable about Bitcoin

Jim Rogers : I’m not knowledgeable about Bitcoin; I know there are at least a dozen imitators now. It is back to what I said before, the world knows we have a problem and many people are looking for a solution. It could be something like Bitcoin. Maybe people are not going to buy gold and come up with something new. Gold has been out of favor; I don’t expect [it] to stay out of favor. Right now the whole world has to have U.S. dollars and have to go through the American banking system. That is proving to be a bad situation for many people and they are going to do something about this whether America likes it or not.






Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.

Jim Rogers on Bitcoin

Futures Magazine:  FM: What is your opinion of Bitcoin? Is it an example of people looking for an alternative to the dollar?

Jim Rogers : I’m not knowledgeable about Bitcoin; I know there are at least a dozen imitators now. It is back to what I said before, the world knows we have a problem and many people are looking for a solution. It could be something like Bitcoin. Maybe people are not going to buy gold and come up with something new. Gold has been out of favor; I don’t expect [it] to stay out of favor. Right now the whole world has to have U.S. dollars and have to go through the American banking system. That is proving to be a bad situation for many people and they are going to do something about this whether America likes it or not.  -- From the October 2014 issue of Futures Magazine

Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.

Jim Rogers on Bitcoin : I never learned enough about it

Q: Have you invested in virtual currencies like Bitcoin?

Jim Rogers : 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.

Q: Do you have no interest in Bitcoin, or because there are so many things to invest in and there is no need to look at it?

Jim Rogers : There have always been plenty of great investments around the world. That's part of it. The other part is that it seemed to be complicated (to me). Of course, I may have missed it. If somewhere along the line, they are down and I learned enough about it, I might invest.

Q: Do you think there is a valid future for virtual currencies like the Bitcoin?

 Jim Rogers : I do know that the world has serious currency needs and serious currency problems. 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. - in China Money Podcast Click Here to watch the full interview >>>>>






Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.

Jim Rogers : I was not clever enough to Invest in Bitcoin

"I was not clever enough to invest in Bitcoin"
  “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.”“The U.S. dollar has dominated the world for the past 70 to 80 years. Somebody is going to stop using the dollar eventually. Jim Rogers said in a recent interview with China Money Network, the veteran investor said he still does not know much about digital currencies, but he admitted that he should have got on board a long time ago

Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.

Jim Rogers : I’ve heard of Bitcoin, I’ve never taken the time to figure out how it works

FM: I have to ask: have you heard of Bitcoin? Do you own any?

Jim Rogers : I’ve heard of Bitcoin, I’ve never taken the time to figure out how it works and what it is. I know it’s there - in Goldmoney



Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.

Jim Rogers : I have heard of Bitcoin, I’ve never taken the time to figure out how it works and what it is

FM: I have to ask: have you heard of Bitcoin? Do you own any?

Jim Rogers : I’ve heard of Bitcoin, I’ve never taken the time to figure out how it works and what it is. I know it’s there. - in goldmoney


Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.