Co-founder of Soros Fund shares perspective

Bitcoin (BTC) does not pose a threat to governments, according to Jim Rogers, renowned investor and co-founder of Soros Fund Management. In an interview with Kitco News, Rogers stated that he sees Bitcoin as a trading tool and not as a replacement for established currencies or legal tenders. He believes that if cryptocurrency were a threat to governments, they would take action against it. Rogers also downplayed Bitcoin’s global influence, citing El Salvador’s adoption as a limited example. He does not foresee cryptocurrencies becoming widely accepted as money due to government resistance. However, he does anticipate widespread adoption of digital currencies, particularly central bank digital currencies (CBDCs), by governments worldwide. Rogers expressed concerns about the increased surveillance potential associated with CBDCs, as governments would have access to individuals’ financial activities. This aligns with recent statements from Donald Trump, who pledged not to support CBDCs and cited concerns about their impact on personal freedoms. The CBDC Anti-Surveillance State Act, which aims to prevent the Federal Reserve from issuing a CBDC without explicit authorization from Congress, was approved by the US House Financial Services Committee. This development highlights the ongoing debate over the role of CBDCs in the US financial system and their potential impact on privacy and surveillance.