Steve Bannon is betting on Bitcoin and may release his own ‘deplorables’ cryptocurrency

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Steve Bannon is betting on Bitcoin and may release his own ‘deplorables’ cryptocurrency


Steve Bannon, who is a former strategist at the White House, had announced that he is very much interested in the goodness of Bitcoin. He also declared that he would be interested in creating his own ‘Deplorables coin’ currency.

What exactly does Bannon have to say about it?

According to Bannon, the libertarian politics which he had spent promoting in his career, is more like the decentralization of bitcoin or other crytocurrencies.

He spoke to The New York Times and mentioned the following –

“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.”

Basically according to Bannon, “control of the currency is control of everything.”

The reason behind ‘Deplorables coin’ –

Steve Bannon’s announcement on his own cryptocurrency, gave many speculations. Its name, ‘Deplorables coin’, basically came from the 2016 US Presidential elections, wherein it was the name given to the supporters of Donald Trump, by Hillary Clinton. This name was in fact later regretted by Clinton but Bannon is clearly making good use of it.

One of the researchers at the Institute for Strategic Dialogue, Julia Ebner, noticed the following in one of her articles about cryptocurrency –

Neo-Nazis, identitarians and jihadists aren’t short of incentives to invest.
They share the anti-establishment sentiment with the libertarians, the desire to make quick money with the speculators, and the need to find alternative transaction routes with the criminals.”

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