Former Trump Advisor Reveals He Owns Bitcoin, Plans on Launching His Own Crypto

  • Former White House Chief Strategist Steve Bannon said cryptocurrencies “are the future.”
  • Bannon is reportedly planning to launch his own cryptocurrency.

US President Donald Trump’s former advisor Steve Bannon recently told CNBC that he holds Bitcoin (BTC). Bannon revealed he likes bitcoin, and is planning to launch his own cryptocurrency. His comments came during the Delivering Alpha conference held in New York where he confidently said, “[cryptocurrencies] are the future.”

Previously, the former White House chief strategist and investment banker claimed that digital currencies have the potential to disrupt the traditional banking system and that he could create the “deplorables coin.”

Bannon reportedly got the idea after presidential candidate Hillary Clinton referred to Trump’s supporters as a “basket of deplorables.” On a more serious note, the American media executive warned against investing in initial coin offerings (ICOs) since most of them have turned out to be a disaster. He said:

Too many investors get blown out by things that aren't thought through.

Steve Bannon

Critical Of Central Banks

Bannon is known for being critical of the traditional financial system. In March, while speaking at an event in Zurich, he said the world’s central banks have been “breaking the rules on the rights of ordinary citizens and exploiting them for their own purposes.”

At the time he added that cryptocurrencies and blockchain technology will be instrumental in “empower[ing] the populist movement.” Bannon added:

[Cryptos and blockchain will] empower [the] movement, empower companies, [and] empower governments to get away from the central banks that debase your currency and make slave wages. We take control of the central banks away. That will give us the power again.”

Steve Bannon

While Bannon was mostly positive on cryptocurrencies, other attendees were reportedly quite skeptical. This could be because of the extremely volatile cryptocurrency markets, as bitcoin fell from an all-time high of nearly $20,000 in mid-December to about $7,400 at press time.

You Can Now Buy Amazon Giftcards With XRP Thanks to Bitpay

Will Heasman

BitPay, a bitcoin payments service, enabling businesses to accept and process BTC, has just added XRP to its growing list of supported cryptocurrencies.

Thanks to the addition of XRP, BitPay has just opened up an entirely new stream of liquidity for the token. XRP now sits alongside market cap mammoths such as Bitcoin, Ethereum, Bitcoin Cash, in the list of cryptocurrencies currently supported by the crypto payments service. In turn, these major assets are transactable on a range of leading retailers.

BitPay cites partnerships with the likes of Amazon, Microsoft, NewEgg, and Burger King, all of which now accept XRP via gift card purchases.

Understandably, the news was well-received by a hoard of XRP fans.

Speaking on the advantages of adding XRP, Sean Rolland, BitPay's director of product, lauded the token's transactions speed and ability to scale:

Bitpay customers are leveraging the promise of blockchain payment technology and with XRP can offer a payment option that is fast, cost-effective and scalable. The addition of XRP as the next blockchain asset supported by Bitpay expands blockchain choices across the payments space

The addition of XRP support comes just a month after major stablecoins PAX, USDC, and GUSD were added to Bitpay's roster, assets which Stephen Pair, BitPay’s CEO, stated would help to negate "costly, complicated cross-border wire transfers."

Featured image from Pixabay.