Former White House Chief Strategist Stephen Bannon Plans to Enter Crypto Market

Steve Bannon

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Within his interview, the New York Times have suggested that whilst Bannon seemed optimistic about crypto, he didn't want to give too much information away on the premise that his controversial name could have a profound impact on the markets and thus could hamper the current projects of his, that are now being worked on. In his interview with NY times, he mentioned that he had a "good stake" in Bitcoin. He describes them as disruptive populism, a way to take the control from central authorities.

Mr. Bannon, according to the New York Times, is having quiet private meetings with crypto investors and hedge funds engaged in the crypto market.

Steve Bannon, the former head of right-wing website Breitbart News and adviser to President Donald Trump, is now high on cryptocurrency-so much so he even floated the idea of creating a "deplorables coin" that apparently would be marketed to supporters of the president. He would call it "deplorables coin" in a nod to Hillary Clinton's description of the supporters of Trump as a "basket of deplorables". Is this going to affect the cryptocurrency that Bannon wants to launch? "It's revolutionary." Bannon also emphasizes that virtual currencies can assist citizens get back power from the central banks that make citizens "slaves to debt". Several unknown companies have raised millions through ICOs, which enable them to bypass regulators and underwriters and reach straight to investors. Whether you love him or hate him, you should respect that as somebody with financial experience, his decisions will no doubt benefit him financially and that therefore, Bannon's bullish attitude towards cryptocurrencies probably means that we should all feel somewhat optimistic about the future of crypto as an investment opportunity. Likewise, the parent company of the New York Stock Exchange is looking at the option of opening an exchange for digital assets.

Anyone who knows anything about the history of cryptocurrency and blockchain technology knows that both came about as the result of some extreme left-wing, liberal thinking.

According to Bannon, cryptocurrencies offer burgeoning political movements economic freedom because it weans the groups off government-controlled currencies.

Steve Bannon has taken on the task of researching not only bitcoin but also the possible consequences of the massive adoption of cryptocurrencies. Only time will tell whether he is successful or ends up creating another controversy.

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