Steve Bannon, the former White House Chef Strategist, American media mogul and former Chair of Breitbart news has spoken to the New York Times during which time, he revealed his opinions towards Bitcoin and cryptocurrencies. As a prolific media and political figure, it is great to see such a person, on such a big stage taking a bullish approach towards cryptocurrencies, ultimately, it’s good news for everyone involved, no matter what you think about him.
Within his interview, the New York Times have suggested that whilst Bannon seemed optimistic about crypto, he didn’t want to give too much information away on the premise that his controversial name could have a profound impact on the markets and thus could hamper the current projects of his, that are currently being worked on.
He did note that recently he has spent a lot of time meeting with crypto hedge fund investors and was exploring ideas behind initial coin offerings (ICO’s) and those sorts of investment opportunities. The New York Times also report that Bannon may be looking towards creating an ICO based arm of his current investment firm, Bannon & Company.
According to the New York Times:
“The work that Mr. Bannon is doing in the virtual currency realm is still in its early stages. But he has expressed an interest in helping entrepreneurs and even countries looking to create their own cryptocurrencies — generally outside the United States. It is not a shocking place for Mr. Bannon, 64, to plot his re-emergence. Cryptocurrencies have many of the characteristics that drew him into Tea Party politics: They break old rules, they exist on the periphery and they pose a challenge to the powerful figures and institutions that have long called the shots.”
You can see the full report from the New York Times for yourself, here-
So, within his interview Bannon remains pretty level with regards to cryptocurrencies, but he really does want to start exploring ICO territory, no doubt in order to explore and latch on to new investment opportunities. Rumours also state that during this, Bannon did confirm that he had a “good stake” in Bitcoin.
What do we make from this?
Bannon is a very famous, very political figure. He is money driven and seems to recognise the fact he can make money through this industry. Whether you love him or hate him, you should respect that as somebody with financial experience, his decisions will no doubt benefit him financially and that therefore, Bannon’s bullish attitude towards cryptocurrencies probably means that we should all feel somewhat optimistic about the future of crypto as an investment opportunity.