‘It’s going to be government money’: Jim Rogers just issued a serious warning to crypto investors — here are the 2 shockproof assets he likes instead
After several years of glorious appreciation, cryptocurrencies are having a major pullback. Bitcoin, for instance, is down 50% year to date.
While many coins look like they are on sale, legendary investor Jim Rogers warns that there is one danger associated with owning crypto assets – the government.
“If and when all our money is on our computer, it’s going to be government money,” he said in a recent interview with Bloomberg Crypto. “That’s not the way bureaucrats think. That’s not the way politicians think. They want control. They want to regulate everything.”
So where should investors look if they want safer alternatives in this turbulent time?
In June, Rogers told ET Now that “there is no such thing as safe” in the world of investments. Still, the multimillionaire points to two assets that could help you withstand the uncertainty ahead – they also happen to be solid hedges against rampant inflation.
Precious metals are a go-to choice for investors in dark times, and Rogers is a long-time advocate.
“Silver is probably less dangerous than other things. Gold is probably less dangerous,” he told ET Now.
Gold and silver can’t be printed out of thin air like fiat money, so they can help investors preserve wealth in inflationary periods. At the same time, their prices tend to stay resilient in times of crisis.
But that doesn’t mean they are crash-proof.
“I’m not buying them now, because in a big collapse, everything goes down. But I probably will buy more silver when it goes down some more.”
Silver is widely used in the production of solar panels and is a critical component in many vehicles’ electrical control units. Rising industrial demand, in addition to its usefulness as a hedge, makes silver in particular a compelling asset for investors.
You can buy silver coins and bars directly at your local bullion shop. You can also invest in silver ETFs like…