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 Johnny-come-lately: Stephen Bannon Buys Into Bitcoin

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Johnny-come-lately: Stephen Bannon Buys Into Bitcoin Vide
PostSubject: Johnny-come-lately: Stephen Bannon Buys Into Bitcoin   Johnny-come-lately: Stephen Bannon Buys Into Bitcoin Icon_minitimeFri Jun 15, 2018 2:24 am
WASHINGTON — Stephen K. Bannon, 10 months removed from the job of chief strategist to President Trump and five months after his ouster from the arch-conservative news site Breitbart News, is betting that Bitcoin and other cryptocurrencies can disrupt banking the way Mr. Trump disrupted American politics.

Johnny-come-lately: Stephen Bannon Buys Into Bitcoin Merlin_139243806_75429d0a-a84c-4980-894f-246be7fc2377-articleLarge

Mr. Bannon won’t reveal very much about his cryptocurrency plans — he worries that the controversy that comes with his name could have a bad impact on projects just getting off the ground.

But he has had private meetings with cryptocurrency investors and hedge funds where he has discussed working on so-called initial coin offerings through his investment business, Bannon & Company. And in his first interview on the topic, he said he had a “good stake” in Bitcoin.

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 Mr. Trump’s supporters as “a basket of deplorables.”

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.

The offbeat world of cryptocurrencies has drawn interest from all sorts over the last few years, from drug dealers and scam artists to the biggest companies in Silicon Valley and the most staid institutions of Wall Street.

https://www.nytimes.com/2018/06/14/technology/steve-bannon-bitcoin.html

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