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Former chief strategist to President Trump, Stephen Bannon, is betting on Bitcoin. Much like Donald Trump threw a wrench into the status quo of politics, Bitcoin and other cryptocurrencies can throw a wrench into how conventional banking and entire industries function.
In a New York Times article by Jeremy W. Peters and Nathaniel Popper, Bannon admits that he has a “good stake” in Bitcoin and has had private meetings with hedge fund managers, crypto investors, and those behind ICOs (Initial Coin Offerings).
Steve Bannon said “It’s disruptive populism…It takes control back from central authorities. It’s revolutionary.”
“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,”
He acknowledged that central banks “debase your currency” and make citizens “slaves to debt.” And recycled the famous “Control of the currency…is control of everything.”
Betting on Bitcoin is Betting on Free Speech
As the article mentions, many who identify as alt-right or nationalist have been restricted by PayPal and Apple Pay. Others have seen their sites smeared and their applications blocked from being listed on Google Play.
These groups have relied on Bitcoin and other Cryptocurrencies to get funding and donations.
One social media platform Gab.ai (of which I have invested a small amount), is even in the process of launching an SEC compliant ICO.
The article also mentions coins being created tied to national wealth, like a marble based coin by Italy. Bannon’s connection with Brock Pierce (who has a highly questionable past) who was also involved with EOS at a point, and their involvement in the rapidly growing world of gaming.
When speaking of those who are behind the cryptocurrencies and blockchain projects, the article ends with a quote, “These guys are visionaries.”
The entire market capitalization of all cryptocurrencies combined is still less than 300 billion! It is not too late to get in. You can follow some of my trades on Trading View. You can check out RealLifeTrading to learn how to trade cryptos yourself. You can follow this site for occasional info. Or you can follow others who are even more involved than I. Feel free to reach out for any questions…
Travis
JMJ – UIOGD