Steve Bannon Says he Owns Bitcoin Now

Former White House chief strategist Steve Bannon has revealed that he now owns bitcoin and is even working on his own cryptocurrency.

The American media executive, who was the former executive chairman of Breitbart News, said during an interview at the Delivering Alpha conference in New York, presented by CNBC and Institutional Investor, “I like bitcoin. I own bitcoin.”

Bannon has revealed before that he believes in bitcoin as well as other digital currencies and had said that cryptocurrencies are “the future.”

Bannon also did warn about initial coin offerings and has said that most of them have been disasters. He said, “Too many investors get blown out by things that aren’t thought through.”

Cryptocurrencies had a rough week this week. The 20 largest cryptocurrencies by market cap all fell by 4% to 10% on Tuesday. Ether was down to about $250, its lowest price of 2018. In January it had been over $1,200.

Matthew Newton, an analyst at eToro, said in an email: “The crypto market seems to have hit panic mode, with prices falling significantly across the board. As we can see in the case of ether, investors seem to be increasing liquidations of their ICO holdings, with significant drops in price and increased volumes.”

Cryptospace had tweeted, “So futures expire in one day, alts just capitulated 20%, hodlers are on suicide watch, bitcoin shorts are stacked to the ceiling and someone just sent 100m$ to Bitmex. Interesting.”