In a recent interview, seasoned investor Jim Rogers shared his perspective on Bitcoin as a trading vehicle, rather than a currency that could overthrow government-issued currencies like the US dollar. Despite the increasing adoption of Bitcoin, Rogers believes it is unlikely to become a widely accepted form of money, except in smaller countries like El Salvador.
Moreover, Rogers predicts that governments worldwide will adopt central bank digital currencies (CBDCs) in the near future. However, he raises concerns about the potential for increased surveillance with CBDCs, as governments would have access to individuals’ financial activities. This echoes similar concerns expressed by former US President Donald Trump, who stated he would not support CBDCs due to privacy concerns. In fact, a bill in the House Financial Services Committee has been proposed to limit potential CBDC surveillance.
While digital currencies are expected to become more prevalent, Rogers emphasizes the importance of addressing government oversight and privacy concerns. This sentiment is echoed by the recent partnership between VGX and Gala Games, which aims to integrate digital currencies into gaming platforms.