'Wish I had bought Bitcoin at $2': Jim Rogers shares views on crypto, gold, silver

Legendary investor and commodities expert Jim Rogers on Monday shared his thoughts on cryptocurrencies and precious metals, saying he continues to observe the market closely but prefers traditional assets like gold and silver.

"I certainly watch and am interested. I have never bought nor sold any cryptocurrencies because I do not understand that they have any value. Maybe they do and I just don't understand it. But I have never bought nor sold any cryptocurrencies. I'm watching and trying to figure out what to do. So far, I've done nothing. I wish I had bought Bitcoin when it was $2. We all do. So, I am watching, but I do not know what to do yet," the veteran told Business Today.

Talking about the rally in precious metals, Rogers said, "Silver and gold are the only two precious metals that I own. I bought more silver a couple of weeks ago. If they go down, I will buy more. I am not thinking about buying the other metals. Maybe I should, but I am watching. All I'm doing is watching right now. When something goes straight up, it usually has a correction. If silver has a correction, if gold has a correction, I hope I will be smart enough to buy more of both."

He reiterated his long-standing faith in gold and silver as reliable stores of value during uncertain times. "Everybody should own some gold. Everybody should own some silver. Everybody should have some because when there are problems, when there is turmoil or disaster, gold and silver always will work to save you in the end. So, I own both. I don't plan to sell them. I plan for my children to have my gold and silver someday. Everybody should own gold and silver because when there's a major problem, gold and silver have always saved you."

Commenting on gold's price outlook, Rogers added, "If it (gold) goes to $5,000, I will not be buying anymore, but if it goes down somewhere in the next year or so, I hope I'm smart enough to buy more. I repeat that I don't like buying things at all-time highs, but if gold has a reaction or silver has a reaction, I hope I will buy more. Silver and gold have always been the place to be when the world has problems."