Former White House Chief Strategist, Steve Bannon Stands Against Donald Trump in All Matters Crypto

Media executive, political figure and President Donald Trump’s ex-advisor and influence during the former’s winning election, Steve Bannon does not agree with the claims made by the president in regard to cryptocurrencies reports CNBC.

Bannon explicitly told CNBC that “Cryptocurrencies have a big future,” adding that the digital assets could play a significant role in “this global populist revolt.” Said claims are solely based on Bannon’s experience, as he too is deemed a proud Bitcoin [BTC] hodler.

According to the claims made, the president popularly known for his presence on Twitter tweeted out that he’s not a fan of BTC nor any other cryptocurrencies, which was expressed upon the reveal of Libra. The reason for such a sentiment, according to Trump, rests in the simple fact that he does not see crypto as money, adding that its

“value is highly volatile and based on thin air.”

He also went as far as stating that

“unregulated crypto-assets can facilitate unlawful behavior.”

Bannon does not seem fazed by the statements as he finds most governments and banks typically prefer to stick to fiat currency, which is backed by control.

Trump seems to shut down any possible success that Libra can attain because he feels it

“will have little standing or dependability.”

In order to properly establish an entity as a bank, the president mentioned that Facebook should instead retort to seeking assistance from a banking charter.

Bannon thinks that Libra is a threat to China and other countries because of the latter’s current expertise in payment apps, adding that third countries are trying to establish payment systems that will get them

“off the reserve currency of the dollar.”

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Nirmala Velupillai
Nirmala Velupillai
Nirmala is a blogger who has been fascinated by the world of technology and its contributions to societal development. While a novice, her eager to learn about the crypto world has led her to write a number of pieces on its positive and negative aspects. On her spare time, she indulges in understanding and building statistical models and enhancing her painting skills.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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