- Chess legend Garry Kasparov has repeated his appreciation of Bitcoin
- The former grand master told Forbes that money printing worldwide highlighted the importance of a fixed supply
- Cryptocurrencies can help individuals “regain control” lost to institutions and governments
Chess legend Garry Kasparov has doubled down on his pro-Bitcoin stance, saying that it can “help the public regain control” lost to institutions and governments. Kasparov, who in the past called Bitcoin “counterfeit money”, publicly changed his tune last November when he criticized the ability of governments to print money, and he recently reaffirmed his stance in a Forbes interview.
Kasparov Says Our Lives Are More State-controlled Than Ever
Kasparov began the Forbes interview by stating that cryptocurrencies have attracted a bad reputation but argued that they are not “inherently bad”, with the matter coming down to “who’s using it and for what purpose”. He calls these fears “overrated”, arguing that in fact there are more upsides to the technology:
…we see many upsides of cryptocurrencies starting with Bitcoin and others that followed it and blockchain as a technology because it allows for more personal control for individuals at a time where more and more of elements of our lives are controlled either by the state, corporations or outside parties that may somehow have a clandestine agenda.”
Kasparov added that the increase in popularity of Bitcoin and other cryptocurrencies are “a natural response of technology to help the public regain the control that has been gradually lost to outside institutions”, showing that, unlike many who comment on it, the former chess grandmaster clearly has a firm grasp of the ideological purposes of Bitcoin.
Bitcoin’s Fixed Supply Trumps Fiat Printing
As he did when he ‘came out’ as a Bitcoin fan last November, Kasparov once more criticized the rampant money printing by governments around the world in contrast to Bitcoin’s fixed supply:
The good thing about bitcoin is that you know exactly the number — the magic number of 21 million. And we understand the formula behind that. But when you look at the other side, the Fed for instance, you never know how many trillions of dollars will appear on the market tomorrow that will damage your savings.
If Bitcoin is ever looking for a figurehead or a CEO, Kasparov is our man.