Jim Rogers says bitcoin ‘looks and smells like’ a bubble, warns about Swiss franc

Jim Rogers is a 71-year-old wealthy investor. He has traveled all over the world, he has seen all of the booms and busts, he has witnessed all of the slick salesmen trying to paint a bubble as being different from the last.

This is why he isn’t buying the hype surrounding bitcoin, U.S. stocks and even Swiss francs.

Speaking in an interview with MarketWatch earlier this week, Rogers provided some sage commentary on one of the biggest headline generators today: bitcoin.

To Rogers, bitcoin “looks and smells like all the bubbles I have seen throughout history.”

He wasn’t pulling any punches.

In addition to avoiding the peer-to-peer decentralized virtual currency, Rogers also argues that investors need to shy away from the Swiss franc, which has been one of the more reliable currencies in the global market since the economic collapse. Rogers notes that the primary concern is the Swiss National Bank has a lot of exposure to the FANG stocks – Facebook, Amazon, Netflix and Alphabet (Google).

“The world has had financial problems since the beginning of time, and we will again,” he said. “The Swiss franc will be a disaster.”

At the same time, Rogers is urging traders to lighten up their load on U.S. stocks.

Is there anything Rogers is bullish on? Yep: Japan, Russia and China.

 

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