(Kitco News) The U.S. dollar will inevitably come to a clash with crypto for the reserve currency status, said Chess Grandmaster and Avast Security Ambassador Garry Kasparov.
Kasparov sees the U.S. dollar losing its reserve currency status with time as more people embrace crypto for its independence. He spoke at the Consensus 2022 conference being held in Austin this week.
When asked whether Bitcoin could pose a serious threat to the U.S. dollar in terms of dominance, Kasparov replied that it is “inevitable."
"The dollar is getting weaker. At the end of the day, it is a reserve currency of the world. It's like a black hole. We have a huge debt, and the government keeps adding more on top of that," he said.
He described the entire financial system in the world as "a black hole," noting that it is natural for people to be looking for means "to defend themselves against the gravity of this black hole."
Kasparov added that it is just a matter of time — anywhere between five years or a...
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