THELOGICALINDIAN - Steve Bannon considers 90 of the ICOs to accept been a adversity alarming out too abounding investors as they havent been anticipation through He additionally reiterates that he brand Bitcoin and that cryptocurrencies are the future
Former White House Chief Strategist for President Donald Trump’s administering Stephen K. Bannon sat with CNBC’s Michelle Caruso-Cabrera and discussed cryptocurrencies July 18.
According to Bannon, 90 percent of the Initial Coin Offerings accept been a “disaster”.
“I anticipate 90 percent of the ICOs accept been a disaster,” he said. “Too abounding investors, I think, accept been absolute out by things which accept not been anticipation through.”
While it’s accurate that a ample cardinal of ICOs accept angry out to be scams, Bannon’s 90 percent is a bit off.
A recent study showed that about 20 percent of the projects accept angry out to be a betray while abounding accept offered huge returns. For instance, putting some money into every distinct arresting ICO aftermost year would resulted in a accumulation 13.2 times of the antecedent investment.
Bannon additionally hinted that he’s alive on a cryptocurrency on his own, saying:
This doesn’t appear as a surprise. Bannon entered the cryptocurrency acreage beforehand this year, analogue that cryptocurrency is “disruptive populism,” which “takes ascendancy aback from axial authorities.”
“It was appealing accessible to me that unless you got somehow ascendancy over your currency, all these political movements were activity to be bound to who controlled the currency,” he said. “Control of the currency, is ascendancy of everything.”
The above Chief Strategist additionally acclaimed that he “likes Bitcoin” and that he owns some amount. He additionally categorical that cryptocurrencies accept a “huge aspect in the future” admitting the accepted authoritative uncertainty.
While it’s cryptic what bulk of Bitcoin Bannon owns, beforehand this year he revealed that it’s a “good stake”.
What do you anticipate of Bannon’s position on cryptocurrencies? Don’t alternate to let us apperceive in the comments below!
Images address of Bitcoinist Archives; Shutterstock.
