Stephen Bannon Embraces The Cryptocurrency World
If you live in the United States, you surely have heard of Stephen Bannon. The ex chief strategist of the current president of the US, Donald Trump, and ex member of the Breitbart News site, is betting on Bitcoin. Making an analogy with Trump, Bannon believes that Bitcoin has the potential to disrupt the economy as well as Trump disrupted the American political scene.
While he definitely is interested in entering the blockchain business, Bannon seems cautious as to attach his name with any projects, as he believes that it has a bad impact on the projects that he is interested in.
The Deplorables Coin
In fact, Stephen Bannon has gone as far as to state some interest in even creating his own token in the future. He would call it “deplorables coin” in a nod to Hillary Clinton’s description of the supporters of Trump as a “basket of deplorables”.
Whatever work Bannon is actually having with cryptos, it is still in early stages. He has expressed some interest in helping entrepreneurs to create companies using blockchain, but nothing actually seems solid at this moment.
Will Bannon’s Re-emergence Be In The Crypto Market?
Bannon, which has had a bit of an image crisis after leaving Trump’s team and Breitbart News, seems to be betting hard on cryptos. He describes them as disruptive populism, a way to take the control from central authorities. “Its revolutionary”, he states.
He believes that governments should stay away from people’s lives and that Wall Street should be held accountable for its mistakes and for making people slaves to debt. Because of this, he states, Bitcoin and the other currencies are a way out.
While Bannon sees a political component to virtual currencies, he still does not seem so interested in coming back to politics as, according to him, his incidents with his colleagues and Donald Trump are still too fresh.
In fact, some specialists like Colin Platt, a crypto researcher and advisor, believe that seems like a natural progression from a man like Bannon, that created his career with conspiracies, to be attracted to a market that is still very unregulated and unsophisticated. Many also see it as bad for the reputation of the cryptocurrency market that a man like this wants to become the face of this tech.
Other links between Bannon’s supporters and Bitcoin can be seen in the fact that many alt-right groups and nationalist communities are using Bitcoin because sites like PayPal have been shutting down accounts that many of these groups were using to receive donations.
Embracing The Crypto’s Radical Political Roots
While many big companies are trying to take the cryptos into the mainstream world and cut down its radical political roots, Stephen Bannon is eager to embrace them. The said that “Control of the currency is control of everything” and believes that this revolution should not be stopped by the mainstream financial market.
According to Bannon, he would have been involved with cryptocurrencies since 2016 if it wasn’t for the Trump campaign, as he is quite interested in this new market for some time now.
Will Stephen Bannon prospere in the cryptocurrency market with his own Deplorables Coin or as an advisor for companies or countries that want to shake and disrupt the world’s financial market? It is still too early to know, but anyone that knows Bannon knows that he is quite capable of leaving his mark on the market.