Steve Bannon, CEO of the Trump’s 2016 campaign and former white house Chief Strategist, believes that cryptocurrencies will disrupt the financial sector in the same way that Trump disrupted American politics.
In an interview with the New York Times at his Capitol Hill townhouse in Washington, the former White House strategist described Cryptocurrency as:
“Disruptive populism, it takes control back from central authorities. It’s revolutionary.”
Adding that he has a “good stake” in bitcoin and is interested in working with entrepreneurs and countries involved in creating their own cryptocurrencies
Mr. Bannon is now entering the cryptocurrency markets and initial Coin Offerings (ICOs), albeit in a low-key. The former White House strategist is wary that the negative publicity that comes up with his name on the heels of his shambolic fall out with U.S. president could have adverse effects on his cryptocurrency project.
New York Times further reported that Mr. Bannon is having quiet private meetings with crypto investors and hedge funds engaged in the cryptocurrency market. He is planning to work on an ICO via his investment company, Bannon & Co. In his first speech on the topic, Mr. Bannon said that he was betting big on Bitcoin, having invested a significant amount in the largest cryptocurrency.
Last month, Bannon met with Timothy Lewis, a hedge fund manager, and blockchain advisor, to discuss ICOs and Cryptocurrency regulation. Lewis noted that he was stunned with the depth of Bannon’s grasp on cryptocurrency markets and ICOs, after a meeting.
Reportedly, Mr. Bannon has expressed ambitions to create his own cryptocurrency. Earlier this year, in a meeting at Harvard University, Bannon apparently discussed creating a new cryptocurrency dubbed “deplorables coin.” The deplorables coin’s name references the time Hillary Clinton called half of president Trump supporters a “basket of deplorable” during the 2016 hotly contested election.
According to New York Times, Bannon says he isn’t interested in digital currencies particularly for the commercial potential; he sees cryptocurrencies as a vital component of his political mission. He firmly believes that decentralized money can give back power to citizens that central banks took away by “debas[ing] your currency” and making citizens “slaves to debt.”