Cryptocurrency

Why is Bitcoin unstoppable? – World chess champion stands behind BTC

You can’t stop Bitcoin! – This statement by the Republican Patrick McHenry met recently in an Interview with CNBC. This is not the only Person who is of the firm Belief that the crypto currency can’t be stopped. In this article, we look at the statements and reasons of the Russian chess world champion Gary Kasparov.

BTC is really unstoppable, and why the cryptocurrency is so relevant?

Bitcoin is more than just a currency

As the Basis of our article is a recent Interview of the Russian chess serves as Grand master Gary Kasparov with Forbes. In this it was Bitcoin and why the Cryptocurrency is unstoppable. Let’s go directly and look at some of the mentioned reasons:

Kasparov starts with the revolutionary nature of Bitcoin. So it means:

Everything that offers us the possibility of control over our privacy back is welcome.

His conclusion is that a concept like Bitcoin is, therefore, unstoppable. In General, Kasparov sees the constant growth of BTC and co. a movement that calls for more personal responsibility and privacy.

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Current monetary policy has BTC in the hands

In addition to all the positive properties, such as censorship-resistance, but it is also the policy itself, the Bitcoin is becoming more relevant power. The chess master said that the United States stresses with their current monetary policy and the “stimulus packages” the strength of bitcoin scarcity.

The beauty of Bitcoin is that you know exactly the maximum number: the magic number of 21 million.

And he says further, that the Federal Reserve is the complete counterpart. For a look at the development of the quantity of money in the last few years, shows how inflationary the money was and how fast the money supply can be increased. Kasparov calls this, “a destruction of savings deposits”.

Elon Musk, Mark Cuban and other prominent people support Bitcoin

Also Elon Musk is a big Fan of the current monetary policy, which he recently in a Tweet pointed out:

The Musk added that people looking at such a policy in a logical way according to the Alternatives. You are looking for Alternatives to secure their wealth and assets, robust against Inflation, and outside the scope of the state’s arbitrary. Of course, the answer to this search is Bitcoin.

Statements such as these can now be found as the Sand of the sea, and underscore the massive acceptance, the won Bitcoin in the last few years. The billionaire Mark Cuban, who is otherwise sceptical towards BTC, admitted that the current monetary policy is positive for the crypto currency.

All in all, we can say that Bitcoin is in spite of its exceptional monetary policy features more than a pure currency. BTC is complex and simple at the same time. The crypto currency has not only economic components, but also on a societal and political level, one of the most exciting achievements of the last years.

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The comments in this article do not represent any trading recommendations or investment advice.

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

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