Former Chief Strategist for US President Donald Trump, Steve Bannon, is planning to enter the cryptocurrency market. According to the New York Times, Mr. Bannon believes that cryptocurrencies could “disrupt banking the way Mr. Trump disrupted American politics”.
Apparently Bannon was in private meetings with hedge fund managers and crypto investors about the possibility of issuing ICOs through his company, Bannon & Company.
Mr. Bannon expressed that he didn’t wanto to say too much about his plans, as he wouldn’t want to hurt startups with controversies associated with his name. He also explained that he has a “good stake” in Bitcoin (BTC).
Bannon believes that cryptocurrency can bring power from the central banks back to citizens.
“It’s disruptive populism,” said Mr. Bannon and continued: “It takes control back from central authorities. It’s revolutionary.”
Some of those aiming at bringing cryptocurrencies into the mainstream aren’t excited about Mr. Bannon’s involvement. Some fear that Bannon’s reputation may influence the perception of the market.
Colin Platt, a cryptocurrency researcher and adviser explained: “It almost seems like a natural progression for a man who gained prominence by shoveling out unfounded conspiracies to now shilling complex technology and financial instruments to an unsophisticated investing public,”.
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