Bitcoin poses no threat to governments, Soros Fund co-founder says
Bitcoin (BTC) is not a threat to governments, according to renowned investor and Soros Fund Management co-founder Jim Rogers. In an interview with Kitco News on Jan. 31, Rodgers explained that he sees Bitcoin as a trading vehicle and emphasized that it doesn’t pose a threat to governments in terms of replacing established currencies or legal tenders. Rogers, who in the 1990s designed the Rogers International Commodity Index, a broad index of commodity futures, maintains that cryptocurrency is not a threat to governments . If it was, governments would likely take action. Simultaneously, he played down the worldwide influence of Bitcoin as a legal tender, referencing El Salvador’s adoption as a limited example. He remarked that he doesn’t foresee cryptocurrencies becoming widely accepted as money, since governments resist such competition. While acknowledging the increasing acceptance of Bitcoin (BTC), he expressed skepticism about its legitimacy as a currency a...