Chess master: Digital assets are the future trend, and cryptocurrencies can replace the US dollar within 10 years

Chess master Garry Kasparov said in an interview this week that he would not be surprised if cryptocurrencies replace the U.S. dollar within 10 years, and praised digital assets as the future trend.

Kasparov is regarded by many as the greatest chess player in history. His battle of the century with IBM (138.22, 0.20, 0.14%) "Deep Blue" computers in 1997 caused a global sensation. He said in an interview on Monday that he believes that cryptocurrencies such as Bitcoin are "digital gold" that can maintain their value when inflation rises.

He also said that cryptocurrency is a good tool for people to counter what he believes is government overspending, which is causing serious inflation and eroding the value of assets.

He said: "In the United States and Europe, trillions of dollars will be printed. I am not happy to see that the government can freely control my taxes, basically devaluing (the U.S. dollar)."

He added: "I think technology will provide me with an opportunity to fight back to protect my hard-earned wealth, which is very important. I think Bitcoin-I think it is online gold-and other cryptocurrencies. It is the future direction of development."

Kasparov said: "I am not a financial expert, but if the U.S. dollar's status as a standard currency is replaced by a basket of cryptocurrencies in 10 years, I will not be surprised."