Wednesday, August 21, 2019

Stephen Bannon Reveals his Stance On Cryptocurrency

Stephen Bannon, co-founder of Breitbart News has revealed that he is a cryptocurrency enthusiast and that he plans to delve into the digital currency market by venturing and investing in cryptocurrency. The Former chief strategist to the current President of United States of America Donald Trump made this known amid an interview with The New York Times. Bannon also expressed his confidence that Bitcoin and other cryptocurrencies can disrupt the banking sector just like Donald Trump disrupted politics in America.

Bannon, who served under Donald Trump’s administration until August 2017, expressed his delight in the prospect of countries issuing their cryptocurrencies based on their national wealth citing a digital currency that was backed by the Italian marble deposits as an example. He stated that:

 “It was pretty obvious to me that unless you got somehow control over your currency, all these political movements were going to be beholden to who controlled the currency.”

As expected, Mr. Bannon refused to say much about his plans to invest in digital currencies; this is because he feels that the controversy surrounding his name might have a negative impact on the potential project and its future achievement. However, he has held private meetings with cryptocurrency investors, specialists, marketers and hedge funds where he discussed starting an Initial Coin offering (ICO) by utilizing his business investment named Bannon and company. It should be noted that Bannon once hinted a possibility of creating a new virtual currency called “deplorables coin.” It appears that the name was an attempt to get at Hilary Clinton after she called Donald Trump’s supporters and fans a “basket of deplorables” during her political campaign in the USA.

Related Article:  Proposed ‘World’s Largest’ Mining Farm Launch Graced by Armenian Prime Minister

Mr. Bannon also revealed that he had a “good stake” in bitcoin and shared that he believes that Cryptocurrency can revive the power that the Central Bank has also deprived citizens of by demeaning the currency and making citizens “slaves to debts.” During an interview at Capitol Hill townhouse in Washington, he insisted that “Control of the currency is control of everything,” Mr. Bannon also added that. “It’s disruptive populism. It takes control back from central authorities. It’s revolutionary.”

Considering the manner at which he left the White House because of the critical comments he made about Donald Trump Jr. and his colleagues in Michael Wolff’s book “Fire and Fury,” Mr. Bannon did not talk about the possibility of returning to Politics in the future.  “It was pretty obvious to me that unless you got somehow control over your currency, all these political movements were going to be beholden to who controlled the currency.” Although his decision to launch an Initial Coin Offering thereby creating a new digital token would undoubtedly draw attention and negative comments from various sources, he doesn’t appear to be bothered by all these. Other causes he has taken on have turned out to be successful despite little or no expectations at the beginning.

More Articles

Billionaire Tycoon Compares Crypto Investors With Greater Fool Theory

Billionaire investor Howard Marks gave an unpleasing remark on bitcoin and its investors in the recent CNBC Delivering Alpha conference set in New York. In this...

Columbia University Studies the Role of Blockchain In Journalism

In an event tagged “Blockchain in Journalism: Promise and Practice,” the Columbia University’s Tow Center for Digital Journalism held a panel examining the role...

For The First Time In 442 Days, Key Bitcoin...

After 15 months of a bearish trend in the cryptocurrency market, a technical analysis of the market indicates the Bullish trend is...

U.S. Rapper T.I. Sued for $5 Million After His...

A U.S. Rapper, popularly known as T.I. is currently facing a lawsuit after his FLiK Token devalued tremendously and the project was abandoned. The plaintiffs are a...

Google To Protect Chrome Users Against Cryptocurrency Hacks

Google is set to make its browsing platform safer for users against the prevalence of crypto jacking and hacks currently in trend. This was...

Daily Bitcoin Transactions Surges By 34 Percent In 2018,...

The number of daily Bitcoin transactions surges by 34 percent, surpassing the high recorded in January 2018. The increase in transaction record is taking...

Why Is It So Hard to Get, Use, And...

Following are some of the reasons due to which many people fail to understand Bitcoin: Mining operations Mining operations are a convoluted mystery to the average...

Tron’s Official Collaboration With Ethereum Imminent, Justin Sun Hints

Tron's founder, Justin Sun gave a hint of the possibility of a partnership between Tron and Ethereum taking place this year. Sun...

Fidelity Considers Offering Trading For Top 5 Cryptos

Fidelity, one of the most surprising cryptocurrency revelations, has expressed today their idea of expanding already. Their goal would be offer trading and custody service...

World Bank Blockchain Based Bond Successful; Raises More than...

While cryptocurrencies have entered hard into the lives of common people, and have also gotten a great buzz from the application of its fueling...

Cardano Releases Update 1.5 on TestNet

Cardano has released an update, Cardano 1.5, on its TestNet and is expected to move to its Mainnet by the end of March...

Russian Village Adopts Its Own Cryptocurrency, The Kolion

Kolionovo, a small town in Russia, is adopting its own cryptocurrency and phasing out the ruble, after one of its farmers, Mikhail Shlyapnikov, decided to...

Latest Articles

Why Some Financial Bubbles Are Necessary Economic Disasters

Why US-based people can’t bet with bitcoins at online...

Online gambling using bitcoin has been happening since the time when cryptocurrency came into being. In the initial days, gamblers used to opt for...

Couple Pays For Breakfast Using Bitcoin, Community Finds This...

A Reddit user by the username u/portageco recently made a post in bitcoin's official subreddit. In his post, u/portageco boasts about how he paid...

Australian Woman Leads Adoption, Tours 10 Countries Spending Cryptocurrencies

Who says you can't go around the world spending cryptocurrencies? As many believe, cryptocurrencies are only good for speculations. But with a little research,...

Did A Physical Bitcoin Just Sell For $99k On...

As at the time of reporting, the listing on eBay had closed. This could be because the seller got a buyer or he decided...

Litecoin Now Approved In 30,000+ Stores

As cryptocurrencies gain ground, more and more technology-based firms find ways to incorporate the nascent technology into everyday life. Moon, prior to this time,...

How To Shop on Amazon with Bitcoin – Step-By-Step...

Wondered how to shop on Amazon with bitcoin? Then here's how you can purchase goods on one of the largest e-commerce websites that ships...

How To Buy Bitcoin On Coinbase – Step-By-Step Guide

Buy Bitcoin on Coinbase instantly in the U.S., UK, Canada, or anywhere you are globally. Coinbase cryptocurrency exchange has enabled its customers buy the...

Grayscale Bitcoin Trust Boosts By 300%, Affects Oil &...

The institutional investment product, Grayscale Bitcoin Trust (GBTC), experienced a growth of more than 300% due to its outstanding performance since February, Forbes reports....

How To Create A Coinbase Account – Step-By-Step Guide

Create a Coinbase account with ease. Use this illustrative guide to create a Coinbase account for buying, selling, and storing cryptocurrencies. And you know...

$9.2 Trillion Transferred Using Bitcoins In 2.5 Years

Against present belief that bitcoin is only used for speculation, James McDowall, a crypto investor and advisor shared a metric about Bitcoin that's been...

Malware Posing as Movie File Manipulates Results and Steals...

A new form of malware posing as movie file was discovered last year and was designed to steal cryptocurrency and inject manipulated results into...