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President Trump’s Chief Strategist, Stephen Bannon Buys Bitcoin

 

Stephen K. Bannon former chief strategist to US President Donald Trump, said in an interview that he was interested in cryptocurrencies and he is planning to enter the market. Mr. Bannon is the co-founder of Breitbart News, as well, and has been following the crypto market very closely.

But in a small gathering of academics at Harvard University this spring, he even floated the possibility of creating a new virtual currency, the “deplorables coin.” The name is a nod to Hillary Clinton’s description of Trump’s supporters as “a basket of deplorables.”

Mr. Bannon has an important amount of Bitcoin saved and had been working with Trump’s administration until August 2017. Bannon is also very excited about countries issuing their own cryptocurrencies. During the interview he said:

“It was pretty obvious to me that unless you got somehow control over your currency, all these political movements were going to be beholden to who controlled the currency.”

Bannon also might not like the fact that bitcoin’s price is said to be controlled by China because it has the most miners of the cryptocurrency and is home to some of the largest crypto exchanges.

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