This reporter has been a huge fan of Jim Rogers for years.
Don’t know who Jim Rogers is? You can read up on him on Wikipedia, but here are the things we like the most about Jim:
- He’s a semi-legendary contrarian – and he has been known to move his entire portfolio to things like precious metals or agriculture stocks when he thinks the timing is right;
- He can sometimes seem to see around blind corners – he has a knack for calling bubbles before they become bubbles;
- He and his wife moved to Singapore to (1) get out of the US and (2) expose his young children to a different culture and a different language.
In this interview we found on YouTube, conducted by the precious metals site Kitco, Jim talks about a wide variety of subjects.
I expected the typical “the crash is coming,” followed by “buy gold,” followed by “start your own garden, start prepping,” but I was sorta surprised to hear Bitcoin and cryptocurrencies come up. And I was even more surprised – at least at first – at what Jim had to say about the crypto craze.
How Much Does He Own?
Jim Rogers, legendary investor, owns zero Bitcoin. “It looks bubblish, when you see the kind of price action we’ve had in Bitcoin.”
Rogers went on to say he’s not sure which of the ICOs or coins or cryptocurrencies will come out on top “if any come out on top.” He sounded, in a word, skeptical.
But This Shouldn’t Surprise You
Earlier in the video, Jim said something about “invest in what you understand.” And he sees trouble in the global marcroeconomic picture right around the corner. He would of course head in the direction of gold – which he holds, but isn’t buying right now. And into the US dollar, too.
However, he doesn’t understand crypto, so you could see why he’s sitting this one out.
Should You Sit This One Out?
Of course, this being a site that talks about Bitcoin, the blockchain, and cryptocurrencies, you can guess what our answer is.
It has been said – here and elsewhere – that this whole crypto industry is eerily similar to the dot-com boom of the late 90s (which, of course, leads to the potential for a bubble to pop). Fine, we get it…and we can understand why you’d think that the flight to safety and the hedge should include gold, or really safe bonds.
The difference here, though, is that we’re looking at an entirely new industry that has been created out of thin air – but the ramifications for global society and economics are huge. Orders of magnitude larger than you might think huge.
Two Pieces of Advice:
Piece one is to watch Jim’s video; it will take you six minutes.
Piece two is to watch MY video. That takes just three – and there I encourage you to look around for answers to your questions.
And, if you want to get started, the absolute first step is to actually get some of the cryptocurrencies we talk about into your virtual hands. Best place to start is Coinbase, and if you use our link, they’ll give you a reward of $10 worth of Bitcoin with a qualifying purchase. (We also get a bonus with your purchase.)