Former Trump Man Steve Bannon Shows Keen Interest in Cryptocurrency

Thu, 06/14/2018 - 10:02
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  • Stephen Bannon has said that he has a good stake in Bitcoin and is interested in creating other digital currencies

Cover image via U.Today

Steve Bannon, once US President Donald Trump’s Chief Strategist, and bigwig arch-conservative news site Breitbart News has shown a penchant for Bitcoin in interviews recently.

The former Trump-man believes that Bitcoin has the power to disrupt banking in a similar style to Trump’s accession to the top of American politics.

Seen around the scene

Bannon has been coy with his level of Bitcoin involvement, not revealing his own investment or level of participation in cryptocurrencies. But he has stated that he has a ‘good stake’ in it, and has suggested creating other cryptocurrencies before.

Bannon has been spotted having private meetings with cryptocurrency investors, and hedge funds, trying to work out ways in which his investment business, Bannon & Company can work with digital currencies and even ICOs.

New currency

In a small gathering, at Harvard University, Bannon even mentioned the possibility of creating a new virtual currency, according to the New York Times - the “deplorables coin.” The name is a nod to Hillary Clinton’s description of Trump’s supporters as “a basket of deplorables.”


Bannon is apparently delving further and further into the cryptocurrency space, especially seeing as his time has been freed up since leaving Politics and his Media work. The word is that the powerful conversative is looking to use decentralized currencies to help entrepreneurs and even other countries, who want to build their own cryptocurrencies.

“It’s disruptive populism,” Mr. Bannon said in the interview. “It takes control back from central authorities. It’s revolutionary.”

Against the grain

It is interesting to see someone of Bannon’s stature buying into a system like Bitcoin, with its decentralization of power and libertarian ideals. Bannon has always been known as ultra-conservative, but still believes that there is something in the future for such a de-control system of finance.

He sounds like both an avowed libertarian who wants government out of his life and a progressive who wants Wall Street held to account when he insists that virtual currencies can help citizens take back power from the central banks.

About the author

Darryn Pollock is an award winning  journalist from Durban, South Africa. He picked up Vodacom’s Regional Sports Journalist Award in 2017 while expanding his Blockchain and cryptocurrency reach.  He is a contributor to Forbes, Cointelegraph, Binary District, and of course, U.Today. Darryn’s belief is that Blockchain technology will be the driving force of the next technological wave and it is the obligation of journalists and writers to tell its emerging story with integrity and pride.

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