A Legendary Investor Just Predicted The End Of The U.S. Dollar — And Warned Over bitcoin

The U.S. has imposed sanctions on Russia's banks, wealthy individuals and the country's central bank in recent weeks.

As a result of these sanctions, some Russian oligarchs have turned to bitcoin, somewhat boosting the bitcoin price, while Russia itself has ramped up the long process of ending its reliance on U.S. financial companies.

Now, the co-founder of the Quantum Fund and Soros Fund Management, Jim Rogers, has warned "what is happening with the U.S. dollar now is the end of the U.S. dollar"— but cautioning governments likely won't allow bitcoin to be used as an alternative.

Rogers expects countries to start "look for a competitor" to the dollar, naming China, Russia, India, Iran, Brazil as all interested in reducing their dollar reliance.

"The U.S. is the largest debtor nation in the world so, for fundamental reasons and political reasons, people are looking for competing currency," Rogers said.