Welcome to the very first episode of BitcoinHardTalk, where we dive deep into the hard truths about Bitcoin, hard money, and the ever-evolving global financial system. Over the last two decades, I’ve had the privilege of working alongside some of the greatest minds in economics, banking, and investment. But this series isn’t just about preaching to the choir—it’s about bringing together different perspectives, even the ones that challenge our beliefs. And that’s why I was thrilled to kick off BitcoinHardTalk with none other than Jim Rogers, the legendary billionaire investor and co-founder of the Quantum Fund.

Jim is known for his blunt honesty and sharp global insights. He’s someone who has seen it all—from riding motorcycles around the world to launching one of the most successful funds in history. When Jim recently stated that he believes Bitcoin is heading for zero, I knew I had to get him on the show to explore his reasoning.

In this very first episode, recorded on June 23, 2020, we discussed Bitcoin, the broader economic environment, and Jim’s outlook on where the world is heading.

Why Jim Rogers?

Jim Rogers is not your typical investor. He’s a man who has ridden over 340,000 miles across six continents and written books about his global adventures. He co-founded the Quantum Fund with George Soros and later launched the Rogers International Commodity Index. With such a wealth of experience, Jim’s views on global markets carry significant weight.

But what really stood out to me was his recent comment that Bitcoin could eventually go to zero. In a world where Bitcoin has captured the imagination of millions, this is not a popular opinion. I wanted to understand where he’s coming from, and what makes him so skeptical about Bitcoin’s future.

The Big Debate: Will Bitcoin Really Go to Zero?

Jim’s stance on Bitcoin is clear and simple: despite its growing popularity, he believes governments will eventually crush Bitcoin by making it illegal. He compares this to how private ownership of gold was outlawed in the U.S. during the 1930s. In Jim’s view, governments love control, and they won’t tolerate a competing currency like Bitcoin when they can issue their own central bank digital currencies (CBDCs).

In his words, “They’ve got the guns.” Governments, he argues, hold the real power, and they will eventually exercise that power to suppress Bitcoin, leaving it with no legal place in the world’s financial system.

Key Themes We Discussed

1. Cash is King—but Which Cash?
One of the first topics we tackled was the common investment mantra that “cash is king” in times of crisis. Jim agrees—but with a caveat: it’s only true if you hold the right cash. He shared the story of how, during the 2008 financial crisis, some investors flocked to the Icelandic Krona for its high-interest rates, only to lose everything when Iceland went bankrupt. Today, despite his criticism of the U.S. economy, Jim holds a significant amount of U.S. dollars. Why? Because in times of global crisis, the U.S. dollar is still seen as a safe haven, even if its long-term fundamentals are shaky.

2. Betting on China and Russia
Jim is famous for taking contrarian investment positions, and he hasn’t shied away from investing in China and Russia—two markets that many Western investors avoid. He believes China will become the dominant country of the 21st century, much like the U.S. dominated the 20th century. While acknowledging that China and Russia face challenges, Jim sees them as long-term bets with significant potential for those willing to ride out the bumps.

3. A Bond Market Bubble
One of Jim’s major concerns is the global bond market, which he believes is in a massive bubble. With interest rates at historic lows—and even negative in some countries—he thinks bonds are dangerously overvalued. In his view, commodities, particularly agricultural commodities like sugar, represent one of the few asset classes that offer real value in today’s market. He pointed out that sugar is down 80% from its all-time high, making it a bargain compared to most other asset classes.

4. Bitcoin’s Fate: Why Jim Sees Zero
And then, of course, there’s Bitcoin. Jim’s prediction is stark: Bitcoin will eventually go to zero. He compares Bitcoin to other forms of money throughout history, pointing out that governments have always stepped in to assert control. Whether it was banks printing their own money a century ago or individuals using seashells or cattle, governments eventually stepped in and outlawed competing forms of currency. Jim believes the same fate awaits Bitcoin. As soon as governments feel that Bitcoin poses a serious threat, they’ll make it illegal—especially as they roll out their own digital currencies.

I challenged Jim on this point, arguing that Bitcoin’s decentralized nature and growing adoption could make it harder for governments to suppress. However, Jim remained skeptical, insisting that once governments “with the guns” step in, Bitcoin’s days will be numbered.

Watch the Full Interview

This conversation with Jim Rogers was an engaging and thought-provoking interview. Whether you agree with his predictions or not, Jim’s perspective is invaluable for anyone trying to navigate the uncertain waters of the global economy and Bitcoin’s role in it.

I highly recommend you watch the full interview to hear Jim’s thoughts firsthand and see where we both agree—and where we don’t. The full video is available right here on this page, so be sure to check it out.

Interview Timestamp & Chapters

• 00:11 - Introduction: Welcome to BitcoinHardTalk
• 01:13 - Meet Jim Rogers: Billionaire Investor & Bitcoin Skeptic
• 03:05 - Jim’s Investment Strategy: Finding Cheap, Game-Changing Opportunities
• 04:02 - Cash is King—But Which Cash?
• 06:55 - Global Debt and Safe Havens
• 10:29 - Commodities and the Bond Market Bubble
• 12:52 - Will Central Banks Adopt Bitcoin?
• 14:00 - Why Jim Believes Bitcoin Will Go to Zero
• 20:57 - Digital Currencies and Government Control
• 25:21 - Investing Tips for Those Living Month-to-Month
• 30:10 - The Future of the U.S. Dollar
• 33:04 - Impact of the COVID-19 Lockdowns on Global Economies
• 36:45 - Singapore vs. Hong Kong in a Post-Lockdown World
• 38:05 - Jim’s Final Thoughts: Preparing for Turmoil

Join the BitcoinHardTalk Membership Portal

If this episode got you thinking and you want to dive deeper into the world of Bitcoin and global finance, make sure you join the BitcoinHardTalk Membership Portal. By signing up, you’ll gain access to an archive of all BitcoinHardTalk episodes, a 4-part video series on the Great Depression of the 2020s, and a downloadable PDF of my book. Plus, you’ll receive my weekly newsletter with insights on Bitcoin, geopolitics, and how to protect your wealth from the looming threats of CBDCs and AI. You can sign up at https://www.simondixon.com/bitcoinhardtalk.

Disclaimer:

The content of this blog and the accompanying video is for informational and educational purposes only. It does not constitute financial, legal, or tax advice, nor is it a solicitation to buy or sell any cryptocurrency or financial asset. All investments, including Bitcoin, carry risk, and you should perform your own due diligence or consult a licensed financial advisor before making any financial decisions. Neither Simon Dixon nor BitcoinHardTalk assumes any liability for losses that may arise from the use of information provided here. The views expressed are those of the individuals involved and do not necessarily reflect the official policy or position of BitcoinHardTalk or Simon Dixon.