Jim Rogers President Rogers Holdings
[Interview Blockchain Today_Reporter Han Ji-hye]
Rogers Holdings Chairman Jim Rogers is considered one of the world’s top three investors along with Warren Buffett and George Soros. He recently mentioned in an interview with a media that “I regret not buying Bitcoin a few years ago.” In addition, a congratulatory video was sent at a press conference to announce the signing of a real-time cryptocurrency payment CARD system contract between Bluecon and UnionPay held on February 23rd.
With interest in blockchain and cryptocurrency hotter than ever, Blockchain Today organized a Zoom interview with Jim Rogers to hear more details. The interview was conducted by Joo-pil Jeong, CEO of Blockchain Today, Hyung-ju Kim, Chairman of the Korea Blockchain Industry Promotion Association, Hyung-Jung Jang of Billybit, Professor Hyung-Jung Kim of Korea University, and Joshua Kim, CEO of Ludena Protocol.
He founded the Quantum Fund in 1968 with George Soros, who worked with Arnhold and S. Bleichroder, a Wall Street brokerage firm, and two years later, the amendment of the U.S. Financial Securities Act in 1970 prevented brokerage firms from operating their own funds. After that, he declared independence with George Soros and started operating the quantum fund independently. After the independence of the Quantum Fund, there were a lot of difficulties in the early days, and in particular, the stock market crashed in 1974 and suffered a crisis, with a lot of losses. There are times that I was worried enough to say”.
However, after that, the Quantum Fund revived like a phoenix, and in the next 10 years, from 1970 to 1980, the S&P 500 index rose only 47%, with a phenomenal return of 4,200%.
He traveled after retirement in 1980 at the young age of thirty-seven, and served as a visiting professor at Columbia University School of Business. Then in 1998 he founded the RICI (Rogers International Atomic Materials Index). The commodity index released by this company is listed as ETN under the brand ELEMENTS. Currently, Jim Rogers is the father of two daughters and lives in Singapore after retirement.
◇ Jim Rogers’ love for Korea
He is known for having a deep attachment to Korea compared to other countries. In response, Rogers replied, “Korea is a very interesting country.” He said of Korea, “The food is delicious, everything is interesting, including the countryside and people. Also, the future of Korea is the most attention.”
This is not the first time he has expressed interest in Korea. In fact, he previously attended the’ASEAN-Korea CEO Summit’ in 2019 and was optimistic about the future of Korea on the premise of unification of the Korean Peninsula. At the time, he said, “Korea will be the most exciting country in the future in Asia where dramatic changes are taking place. Japan is currently in decline after peaking, but the Korean Peninsula will lead economic revival by combining North Korean resources and labor, and South Korean capital and manufacturing industries. “I looked out.
President Rogers told Blockchain Today, “I would definitely like to visit Korea and have a conversation. I love Korea very much.”
◇I regret not buying Bitcoin
Rogers recently mentioned that he regrets not buying Bitcoin. Does this mean that he, who was known as an opponent of Bitcoin, now sees Bitcoin as a safe investment asset?. In response to this question, he stressed, “I don’t mean that my thinking has changed.” When asked for detailed comments on the remarks, he said that the remarks were correct.
“I regret many things I didn’t buy,” he said. “Not buying Samsung in the ’90s, not buying IBM in the ’40s, not buying Amazon in ’95, not buying when silver was $8, etc. “I regret a lot of things I didn’t buy.” Likewise, Bitcoin was a statement to the effect of regret not buying it before it went up.
Accordingly, Rogers’ remarks of’regret not buying bitcoin’ and the meaning of seeing bitcoin as a safe investment do not mean the same. “It would be nice if I bought it,” he said, “but I’m sure I won’t buy bitcoin now (the price has risen).”
However, he added that it does not mean that you cannot see profits through cryptocurrency. He added, “I know a trader who made a lot of money with bitcoin. So far, bitcoin seems to be a good trading tool. So if you can do it well, it’s okay to trade.”
◇The right way to invest
“You shouldn’t invest in anything until you know it very well,” said Rogers several times. You have to always understand everything and know where to invest. He says that when he makes investment recommendations to people, people often live blindly without knowing what it is. “This kind of recommendation is not good for anyone. You should invest only in areas you know well. Don’t listen to investment information. You shouldn’t listen to me.”
He also said that in the event of any change, he could invest in Bitcoin himself. “Currently, I don’t plan to invest in Bitcoin or any cryptocurrency, but it’s not’never’. I can invest when something changes. I can’t say that I have no investment plans.”
◇ Blockchain and cryptocurrency prospects
The future of the blockchain market is expected to be bright. “The future of blockchain is bright. Blockchain has become one of the most important technologies in the 21st century and will change everything we know. In the future, many people will lose their jobs, and this electricity will also lose many people’s jobs,” he said. So blockchain is a very interesting part for all of us.”
“I don’t think I’m one of the best investors in the world,” said Rogers. “It’s been successful in the past, but no one knows the future,” said Rogers. “Every money will be encrypted money, but not mine or your encrypted money. It will be the government’s encrypted money.” “China already has encrypted money. Other encrypted money cannot be used,” he added.
Recently, China has launched digital currency (CBDC) issued by the central bank for the first time among major countries and is carrying out various pilot projects. It also banned bitcoin mining in China.
In this regard, Rogers cited digital transactions such as China’s QR code as a leading example. “In China, you can’t use cash to get in a taxi. You can’t use cash to buy ice cream, and you have to use’computer money’. This will be the case in the world in the future. All countries, including the United States and China, also use computer money,” he said. Have”
Rogers said, “You can’t do anything with cryptocurrency in the US. Most people don’t think of cryptocurrency as money, and even if you buy a watch as a cryptocurrency in a store, it’s highly likely not to accept it. Cryptocurrency as a trading tool Seems successful, but as many cryptocurrencies disappeared as ‘0’, you need to know and invest very carefully.”
◇To Blockchain Today Readers
Blockchain will be one of the most important technologies of the 21st century. And it will change everything we know. It will also make many people rich. I don’t yet know which company is the best blockchain company.
We plan to explore blockchain investment in the future, but we do not have any cryptocurrencies right now. If you are aware of a blockchain that seems to be successful, please email me. I will do my own research.
Blockchain is expected to be a very important factor for all of us, but be careful with investments when you don’t know what it is. And don’t listen to anyone. I won’t hear anyone’s opinion on my investment. I’m not going to listen to Fed Jerome Powell’s criticism of Bitcoin. Any country, including Korea, the United States, and Germany. All investment decisions are made by yourself.
I currently love Korea very much and would like to visit. I want to visit not only South Korea but also North Korea. I hope to see you in Korea someday.