According to macro investor Jim Rogers, the following could trigger a widespread ban on Bitcoin

Macro investor and financial commentator Jim Rogers says governments could take steps to ban Bitcoin if cryptocurrency seriously threatens the future of fiat currencies.

In a new video, Rogers argues that if the use case of Bitcoin as a currency solidifies, there is a real risk that it will usurp fiat currencies. Instead of relinquishing power, governments will try to “ban” the flagship, predicts Rogers.

“If Bitcoin ever becomes a viable currency, not a trading instrument but a viable currency, they can forbid it.

“If it’s just a trading instrument, I see no reason why they would ban it. Unless it’s money laundering or something. No, if people aren’t trying to compete with government money with that, why not? “

The macro investor adds that the threat governments pose to Bitcoin will only increase as governments develop digital versions of their own fiat currencies.

“Governments don’t want to lose control. They like their monopoly, and if they all have their own government money they’ll probably say, “Okay, this is US dollars and you’re at the computer, but if you want to use something else, you can?”

This is actually not my experience with governments at any point in history … well, mostly in history. And I can’t see the US government going to let that happen. “

Currently, however, Rogers points out that he views Bitcoin primarily as a tradable asset with few other use cases as opposed to metals like silver.

“As a store of value, I don’t know – well, considerable, but I don’t know what the value is. Listen, if we have a supply of silver, I know that silver can be used in solar panels, electric cars, etc., etc. I don’t know how Bitcoin can be used other than to trade it. “

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