E Point Perfect
Crypto

“It’s Going to Be Government Money”



article image

Arman Shirinyan

Old-school investor does not believe in cryptocurrency’s safety, says government will take it all

In his most recent interview with Michelle Jamrisko, Bloomberg’s Senior Asia Economy Reporter Jim Rogers described his own reasons why he is not willing to invest in cryptocurrency and digital assets despite the increased level of adoption among retail investors.

Co-founder of Soros Fund Management stated that he believes cryptocurrencies are going to become the “government’s money” at some point. Rogers said that with the greater adoption level, centralized government institutions will go after people’s funds and try to control them somehow.

The investor referred to the upcoming release of numerous CBDCs, which are digital assets but not necessarily cryptocurrencies, released by central banks or other centralized financial institutions that will be backed with the government’s official currency.

Rogers even said that his own wife and friends have been investing in cryptocurrencies and some even made some profits, while others lost everything with their portfolios going to zero.

Ads

Is he right about cryptocurrencies?

During his interview, Rogers has not specified if he is talking about CBDCs exclusively or covering both central bank currencies and decentralized cryptocurrencies. Technically, a third party cannot access your noncustodial cold wallet from your personal computer if it is not infected with any malware that targets cryptocurrency wallets.

Without physical access to your PC, there is no way to somehow “get” the funds from a wallet not connected to the internet. Considering the fact that cryptocurrency wallets can be completely anonymous and depersonified, it is questionable how the government or any other person is going to access the funds of digital assets users who are are not publicly showing their addresses or the possession of certain digital funds.





Source link

Related posts

Bitcoin Now Below “Realized Price” as Price Dips Below $21K, What This Implies

Dawn Zuniga

Bears and Bulls May Both Get Surprised as Stablecoin Supply Surges Past $150 Billion

Dawn Zuniga

Ethereum’s Vitalik Buterin Says You Should Call Out Scammers

Dawn Zuniga

Shiba Inu Whale Spends $2 Million on SHIB, Taking Advantage of 8% Drop

Dawn Zuniga

Cardano’s Vasil Upgrade Now Supported by Bitfinex Exchange

Dawn Zuniga

Cosmos (ATOM) Price Spikes by 40% in Two Days: Possible Reasons

Dawn Zuniga