Kasparov is a big supporter of Bitcoin…
Not deterred by the current bear market in the cryptocurrency market is Russian chess grandmaster Gary Kasparov.
Kasparov, who is also a Bitcoin supporter, revealed during Consensus 2022 his thoughts on cryptos.
“Although 99% of all coins are worthless and without substance, both Bitcoin (BTC) and Ethereum (ETH) have already been integrated into traditional financial markets,” he said and continued:
“Investors will lose some money, but they will also gain, which shows that coins are already integrated into the financial system. After all, this is what happens with stock exchanges.”
Some people make a lot of money and then lose a lot of money. But right now, even without recognizing it, financial markets have already integrated Bitcoin and Ether and other related currencies into the system.
NFTs will recover
Kasparov remains optimistic about NFTs, which he expects to recover. The market for NFTs has certainly slowed from its peak.
A recent report from DaapRadar showed sales volumes of $3.7 billion in May.
Although volumes are down 20% from April, Kasparov believes the NFT market will recover as the world relies on digital transactions.
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