Veteran investor Jim Rogers, renowned for co-founding the Quantum Fund with billionaire George Soros, has reiterated his skepticism towards cryptocurrencies, predicting their eventual disappearance. Despite the recent surge in bitcoin’s price to a new all-time high, Rogers remains unconvinced of the long-term value of cryptocurrencies.

Speaking at the India Today conclave, Rogers expressed his doubts about cryptocurrencies, stating, “I’m very skeptical of crypto. I don’t expect it to last. It’s been fabulous for some people now. Not for me, but I do not see any long-term value in cryptocurrency.”

Rogers emphasized his confidence in tangible assets like rice or sugar, which he believes will retain their value over time. In contrast, he cast doubt on bitcoin’s longevity, asserting, “Bitcoin will disappear and go to zero someday.”

Regarding bitcoin’s role as a safe-haven asset, Rogers expressed skepticism, suggesting that it would not replace gold or silver. He highlighted the general understanding of gold and silver compared to the complexities of bitcoin, stating, “Most people in the world understand gold and silver, but most do not understand bitcoin.”

Despite the recent surge in bitcoin’s price, Rogers confirmed that he does not own any bitcoin or other cryptocurrencies. He expressed his belief that cryptocurrencies are primarily trading vehicles and expects them to disappear eventually, noting that many cryptocurrencies have already vanished.

Rogers’ skepticism towards cryptocurrencies is not new. He has previously cited concerns about government regulations and the potential outlawing of cryptocurrencies as reasons for avoiding them. He has also warned about the potential decline of the U.S. dollar and predicted a severe recession in the future.

In conclusion, Rogers remains steadfast in his skepticism towards cryptocurrencies, including bitcoin, and expects them to disappear eventually, favoring tangible assets like gold and silver for long-term value.