Russian chess grandmaster and human rights advocate Gary Kasparov, who played great against IBM’s Deep Blue supercomputer, explains why the current economic crisis will lead people to Bitcoin. In a recent interview, he said that due to unconventional monetary policy and government intervention, the BTC may be the right move. The former chess world champion told Forbes: “Anything that can offer us the opportunity to take at least some control over our privacy is always welcome.”
“That’s why I think that due to the constant popularity of Bitcoin, other cryptocurrencies and blockchain technology, this concept is inevitable,” he added.
Gary Kasparov: At the Fed, you never know how many trillions of dollars will be on the market tomorrow
People are now more aware that many important aspects of their lives are being scrutinized and owned by third parties. So many of them welcome the emergence of blockchain and digital assets. Cryptocurrencies and blockchain give people the opportunity to fight against privacy violations and human rights restrictions. Kasparov’s affection for Bitcoins is understandable; After all, he is chairman of the Human Rights Foundation, a non-profit organization that recently set up a fund to support the development of BTC.
However, the chess grandmaster went even further and defended the Bitcoins as an alternative to US monetary policy. “The good thing about Bitcoins is that you know exactly the number – the magic number of 21 million. And we understand the system behind it, “said Gary Kasparov,” but if you look the other way, for example, at the Fed, you never know how many trillions of dollars will be on the market tomorrow, which will damage your savings. “
“The state has the power to issue the money, but if it gets out of control (as it is now), people are looking for alternative ways to protect their wealth and protect their assets against inflation or uncontrolled state interference in their financial affairs,” he added.
He’s not the only one who noticed. Millionaire Mark Cuban said in April that Bitcoins could benefit from the US still printing money – albeit a little more skeptically. “It’s a potential benefit to Bitcoins if everything goes to the ‘toilet’ because we’re printing so much money, there are global consequences. In that case, Bitcoin has something to deal with and something to say. And if we don’t, Bitcoins have nothing,” Cuban said at the time.
Maybe Kasparov is thinking about fifteen moves ahead. Do you agree with the opinion of the chess grandmaster?
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