Veteran Chess player, Garry Kasparov recently praised Bitcoin, the world’s leading cryptocurrency. Garry described Bitcoin as the way forward, further stating that our freedom in the financial ecosystem should be protected in every way possible.
The 1985 world champion admitted that he was initially skeptical when he was first introduced to Bitcoin in 2014. However, further research made him realize that Bitcoin is the way forward. Garry Kasparov described Bitcoin as a combination of technology that impacts individuals and a means to resist pressure from dictating governments.
Just like Garry, many individuals and organizations who did not support Bitcoin initially have come to terms with the digital asset. The performance of Bitcoin over the years has proved that the crypto asset is here to stay. More so, blockchain technology keeps evolving and is gradually becoming a useful feature in society.
Is Bitcoin the Way Forward?
The decentralized nature of the digital asset makes it possible for users to fully control their funds. Bitcoin is not issued by any Nation or Central bank and can be used by anyone.
Last year, when a well-known sect took over power in Afghanistan, causing citizens of the nation to experience a financial crisis. The country’s currency quickly plummeted, and even individuals with large sums were unable to access their funds.
Garry Kasparov believes Bitcoin is necessary for individuals to be resistant to chaotic situations like this. Aside from having full control over an asset, Bitcoin is also viewed as a hedge against inflation. Interestingly, the long-term performance of the crypto asset proves that to be true.
From another perspective though, Bitcoin is not living up to that claim at the moment. Since the start of the year, Bitcoin has lost more than half its value. Notably, though, Bitcoin has always recovered from intense price crashes. Crypto investors cannot wait for the next recovery phase for the leading digital asset.
