A fortnight earlier, Rogers, despite being a vocal critic of the digital asset class, admitted that he wished to buy Bitcoin at dirt cheap price about a decade ago. He made it clear that his sole desire was to make profits.
Rogers clarified that he wished to own bitcoin about a decade ago only to book hefty and supernatural profits. “I wish I had bought it (Bitcoin) at $1 or $5 as it went to $60,000-70,000. Everyone had thought the same,” said Rogers.
Adding more to this, Rogers, in his interview with ET Now, said that he does not own any crypto assets and he does not intend to buy any in future, even if they come down further.
“I wish I had bought it earlier only to take money, but that does not mean that I have changed my mind,” said Rogers, Author, Street Smarts: Adventures on the Road and in the Markets. “I don’t think they are going to change the world.”
Crypto assets, led by bitcoin, have been the talk of the town lately due to various reasons. Recently, the total market capitalization of the asset class dropped below $1 trillion.
The total market cap of crypto assets on Wednesday was barely above $970 billion, after wiping out more than $2 trillion or 70 per cent of investors’ wealth in eight months.
However, Rogers is not the only celebrity investor, who has criticized cryptos vocally. Legendary investor Warren Buffett and his partner Charlie Munger have explicitly shown their outrage for cryptos, kudos to their hostile comments.
Buffett, at the recent annual general meeting of Berkshire Hathaway, said that it’s not a productive asset and it doesn’t produce anything tangible. Buffett said bitcoin is ‘probably rat poison squared.’
“In my life, I try and avoid things that are stupid and evil and make me look bad in comparison to somebody else – and bitcoin does all three,” Munger said. China was smart enough to ban bitcoin, he added.
Top tokens like Bitcoin, Ethereum and BNB have plunged more than 70 per cent from their peak values. Other tokens including Solana, Polkadot, Avalanche, Tron and Dogecoin have taken a hit of 90-95 per cent from their record highs.
India’s Big Bull Rakesh Jhujhunwala, in his interview given earlier, expected that crypto market to collapse one day. Contrary to Rogers, Jhunjunwala had said that he won’t buy Bitcoin even for $5.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
