Cryptocurrency News

Former Trump Chief Strategist Steve Bannon Becomes Bitcoin’s Most Unlikely Ally

He’s no longer a member of Donald Trump’s cabinet, but Steve Bannon remains one of the most famous and controversial people on the planet. When Bannon speaks, it’s usually about right wing conservatism. This week however, Bannon has been talking cryptocurrency, describing it in the most left-leaning of terms as “revolutionary.”

As the man who reportedly had the ear of the newly elected President of the United States Donald Trump more than anyone else, Steve Bannon was until recently, one of the most influential people on the planet. 10 months ago, Bannon’s gig as Trump’s Chief Strategist ended abruptly and somewhat acrimoniously. He returned to Breitbart News, the company he co-founded in 2007, but quit five months ago.

Since then, little had been heard from Bannon, who seemed to be deliberately keeping a low profile. So, it was something of a surprise when he reemerged on Thursday (June 14) with an interview in the New York Times where he declared his love for cryptocurrency.

Cryptocurrency Is “Revolutionary”

The interview – held at Bannon’s townhouse on Capitol Hill – revealed that in the months since becoming unemployed by choice, he has been focusing all his attention on the most unlikeliest of subjects for a right wing conservative – cryptocurrency. Right now, Bannon doesn’t wish to reveal too much of his upcoming crypto-related project, as he is concerned that negativity connected with his name could damage it before it gets off the ground.

Anyone who knows anything about the history of cryptocurrency and blockchain technology knows that both came about as the result of some extreme left-wing, liberal thinking. The first ever cryptocurrency, Bitcoin, was born out of the desire to create a currency that was controlled and mined by a vast network of free-thinking individuals, a currency that answered to no national government or central bank, that promoted independence and even anonymity. If anything, crypto was created to annoy people just like Steve Bannon.

Bannon himself described crypto thus:

“It’s disruptive populism, it takes control back from central authorities. It’s revolutionary.”

However, far from being “annoyed”, the opposite has happened. In his interview with the New York Times, Bannon revealed that he has been a Bitcoin believer and investor from the early years and owns a substantial amount of BTC.

Bannon stated that he is putting together a company that will help entrepreneurs and possibly even countries to create their own cryptocurrencies. He is aware that his involvement with crypto is sure to attract a lot of negative attention to the industry from the same individuals in the mainstream media who took shots at him in the White House.

Some members of the crypto community have already expressed their concern as to Bannon’s crypto agenda. As digital currency researcher and advisor Colin Platt said:

“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.”

Who Is Steve Bannon?

Steve Bannon has packed an awful lot of living into his 64 years, and he’s clearly not done yet. The young Bannon spent seven years as an officer in the United States Navy during the late 1970s and early 80s. Following his military service, Bannon worked as an investment banker with Goldman Sachs, working his way up to the position of vice president before quitting in 1993. That year, Bannon became acting director of Biosphere 2, a research project and facility located in Oracle, Arizona.

Changing tack completely, Bannon then became an executive producer in Hollywood, and was involved in the development of 18 movies. In 2007, he cofounded Breitbart News, a right-wing news website which is largely responsible for the alt-right movement. It was his association with Breitbart that helped cast Bannon in the role of a “right wing racist”, when he was recruited by Donald Trump in 2016, a tag that Bannon – somewhat worryingly – has never attempted to deny.

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