Prince Philip of the former Kingdom of Yugoslavia turns out to be a bitcoiner. During an interview, he said: “Not crypto, but Bitcoin. It’s only about Bitcoin. Bitcoin is freedom. And that’s something I want for everyone” . According to him, it is time for a separation between money and state and bitcoin is a way for people to protect themselves against inflation.

Prince Philip currently works in the financial sector, although he keeps exact details to himself. “I work in finance,” said Prince Philip during the interview, “I work in wealth management for an international financial organization, with headquarters in Europe, a large office in London.”

There he works as a financial advisor and analyst. ?ǣI mainly analyze and tell clients what is happening with the market, what is happening with their portfolios,?ǥ he explains, ?ǣAnd I talk to a lot of other analysts and portfolio managers in the company. We help make decisions. “

Not crypto, but Bitcoin

Prince Philip appears to be a proponent of Bitcoin, but not altcoins. When asked about cryptocurrencies, he replied, “Not crypto, but Bitcoin. It’s only about Bitcoin. Bitcoin is freedom. And that’s something I want for everyone.”

Presumably he makes the distinction, as many do, because Bitcoin is the only cryptocurrency that is decentralized. This makes the network secure, freely accessible and without a central power party. It makes monetary policy immutable and users are in charge of their own money.

?ǣIt [Bitcoin] is something everyone has to learn and they will learn it slowly,?ǥ he continues, ?ǣSome people will not want to learn it because they are not used to it. They want to protect the system they thrive in. But they don’t realize that their system… or maybe they do… isn’t beneficial to all the other people in the world Billions of people around the world aren’t doing too well right now We need the money take away from the state.”

He seems to be referring to the 1.7 billion unbanked people in the world and the many countries with high inflation. At the moment there are 22 countries with an inflation rate higher than 10%, with a total population of more than 1 billion.

Hard money

“I think we need hard money again. We need good quality money, which is not subject to inflation ,” Prince Philip continued, “And as you know, inflation is really a problem in this world. Inflation is almost a some kind of tax.”

He refers to inflation as a result of money creation. If central banks create new money and thus increase the money supply, the value of the individual currencies decreases as a result. It is an opaque process that allows governments to spend more money, but with the burden borne by citizens in the form of inflation. Inflation affects not only savings, but also incomes.

“Especially right now, especially since the last financial crisis in 2008, with the exceptional stimulus packages pumped into the economies. And since then, with the corona pandemic, unprecedented amounts of stimulus packages have been pumped into the economies” , explains Prince Philip, referring to the thousands of billions of fresh money created since the start of the crisis.

?ǣAnd of course?Ǫ what will happen to that money? It will create inflation. While you don’t have that with bitcoin,?ǥ he explains, ?ǣYou have a maximum of 21 million bitcoins that will ever be produced, and therefore so it will never be subject to inflation. And that helps to protect people” . After all, if euros and dollars fall in value, this will not reduce the value of bitcoin – on the contrary, it will in principle increase proportionally according to market forces.

“And besides that, it’s free from censorship, it’s highly fungible, it’s movable. It will help people to be individually sovereign again. And that helps people’s freedom ,” said Prince Philip.

Kingdom of Yugoslavia

Prince Philip is third in line of succession to the royal house of the former Kingdom of Yugoslavia, not to be confused with the subsequent Republic of Yugoslavia. The kingdom existed until the royal family fled the country during World War II. Since 2001, the royal family lives again in the palace in Belgrade, but without political power.

s: Wikimedia, license CC BY-SA 4.0