Ex-Trump aide Stephen Bannon admits to owning Bitcoin and working on own cryptocurrency 18809
News
Roshni Vayyapuri
Jul 19, 2018 at 2:30 PM

President  Donald Trump's former adviser Stephen Kevin Bannon says he owns bitcoin and emphasized that he is developing his own cryptocurrency. Stephen Bannon served as White House Chief Strategist in the administration of U.S. President Donald Trump during the initial seven months of Trump's term.

Ex-Trump leader Strategist Bannon revealed during a comprehensive interview, "I like bitcoin. I own bitcoin. He was interviewed during the Alpha conference in New York, presented by CNBC and Institutional Investor.

Earlier Banon has said that he believes in bitcoin and other virtual currencies and he is seriously taking into account what he claimed as "deplorables" coin. Hillary Clinton has once mentioned Trump's supporters as a "basket of deplorables" during the 2016 presidential campaign. Also, Bannon has claimed, cryptocurrencies- "They are the future."

Nevertheless, Bannon warned about the negative side of Initial Coin Offerings which occurs during a creator introduce new offerings to the market. Most of the facts that he pointed out have been a catastrophe.

He further added, "Too many investors get blown out by things that aren't thought through."

The conference mainly revolved around skepticism and negative side of cryptocurrencies despite the current crypto market scenario and the popularity cryptocurrency has gained over the past few years. Bitcoin has experienced a significant volatility over the last few months. It was once traded for $20,000 but more recently was priced around $7,300.

Steve Bannon, has once said in a speech that blockchain-based cryptocurrencies can assist bring about liberation for Western countries from below the control of all effective relevant banks together with the Federal Reserve and the ECB and the ruling “everlasting political magnificence.”

“relevant banks are within the enterprise of debasing your forex,” he proclaimed. “significant governments are within the enterprise of debasing your citizenship.” however, Bannon reassured that target market that with the usage of cryptocurrencies “We take control of the important banks away. so that it will supply us the strength once more.”

see also: Ripple recruits Facebook Payments Executive to carry out a Pivotal Role

Stephen Kevin Bannon

Stephen Kevin Bannon is an American media executive, political figure, an Ex-investment banker, and the former executive chairman of Breitbart News. He was the Chief Strategist in the administration of U.S. President Donald Trump during the initial seven months of Trump's term.

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