The great chess master and human rights lawyer Garry Kasparov explains why the current economic crisis will take people to Bitcoin
The great Russian chess master Garry Kasparov said in a recent interview that, following unconventional monetary policy and government surplus, Bitcoin may be the right move.
In statements to Forbes, the former world chess champion said: “Anything that can offer us the opportunity to regain control or some control over our privacy is always welcome.”
“That’s why I find the steady increase in popularity of Bitcoin, other cryptocurrencies and blockchain technology inevitable,” he added.
Kasparov’s affinity for Bitcoin is understandable, after all, he is the president of the human rights foundation, a non-profit organization that, incidentally, recently launched a Bitcoin development fund.
But the great chess master went further, defending the strength of Bitcoin as an alternative to monetary policy in the U.S.
“The good thing about Bitcoin is that you know exactly the number – the magic number of 21 million. And we understand the formula behind it, “said Kasparov,” but when you look the other way, the Fed, for example, you never know how many trillions of dollars will appear on the market tomorrow that will hurt your economy. “
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Another government stimulus package is not in the best interests of the people imo
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“Another government stimulus package is not in the people’s best interest”
“People are looking for alternative ways to protect their wealth and save their fortune against inflation or uncontrolled state interference in their financial affairs,” he added.
He is not the only one to have noticed this. The billionaire Mark Cuban said in April that Bitcoin will benefit if the U.S. continues to print money – although it is a little more skeptical.
“It is the potential benefit of Bitcoin if everything goes wrong, because we are printing a lot of money, and there are global implications, Bitcoin has something to deal with and something to say. And if we don’t, Bitcoin will have nothing, ”said Cuban at the time.
Perhaps Kasparov is thinking of fourteen moves ahead.