Steve Bannon Enters the Crypto market, Plans to Launch Own Virtual Coin

Bannon Has a “Good Stake” in Bitcoin

According to the New York Times, in addition to the famous political tours, Steve Bannon arranged interviews and closed meetings with significant crypto investors. Earlier this year at Harvard University Bannon discussed the creation of a new virtual currency called "deplorables coin", named after the moniker Hillary Clinton gave to some Trump supporters during the 2016 election that has become a rallying cry of sorts since then.

Steve Bannon, President Trump's former Chief Strategist, was once his closest ally and advisor.

Apparently, Bannon is trying to make his way into the world of cryptocurrencies using his own investment firm, Bannon and Company.

Will Bannon's Re-emergence Be In The Crypto Market?

The former chief strategist to President Donald Trump and one time head of alt-right publication Breitbart is thinking of rallying up the basket of deplorables into buying some "deplorables coin" for his next project.

"Control of the currency is control of everything", says Mr. Bannon.

In August of 2017, President Donald Trump chose to remove Steve Bannon from his administration.

More news: LeBron James To Philadelphia 76ers Not A 'Good Move' For Him: Howard

There are those deep in the world of crypto and blockchain that are anxious about Bannon's presence in the space.

Bannon stated that he is putting together a company that will help entrepreneurs and possibly even countries to create their own cryptocurrencies. He is also focusing much more on the European and Middle Eastern markets.

The unconventional world of cryptocurrencies has attracted appeal from everybody over the last few years, from drug dealers to scam artists to largest organizations from Silicon Valley, and most respectable establishments from Wall Street.

"It's disruptive populism, it takes control back from central authorities".

Cryptocurrency isn't unlike Tea Party politics, he said. 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. Recently, Timothy Lewis, who manages crypto hedge fund Ikigai, said he was impressed with the depth of Bannon's grasp on blockchain technology and the opportunities it opens up, after a meeting.

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