It seems as though Bitcoin just can’t get a break. On Sunday it was reported that South Korean exchange Coinrail had been hacked, causing the price of the crypto powerhouse to dip quite severely.
The Crypto Train Keeps Powering Through
However, despite all that is currently going wrong with Bitcoin, the currency still has its fair share of supporters. The latest big-name personality to publicly get onboard the crypto train is former White House strategist, Steve Bannon, who in an interview with the New York Times has claimed that he has a “good stake” in BTC.
Bannon also mentioned that he is “interested in working with entrepreneurs and crypto specialists” which has led many to believe that he may also have ambitions to create his very own currency.
A couple of months back Bannon spoke at Harvard where he discussed his plans of creating a new digital asset called the “deplorables coin”.
While the former White House representative maintains that he isn’t interested in cryptocurrencies solely for their “financial value”, he also sees them as being a technological breakthrough that can help people regain control over their finances.
While Bitcoin might be the most well-known digital currency in the market today, a lot of other assets like Monero are also gaining traction within the online retail community. Since Monero has been deemed to be “more untraceable” than bitcoin, it has become widely popular as a means of facilitating digital transactions.
Final Take
Despite the recent dips in cryptocurrency prices, their meteoric rise last year makes it abundantly clear that the masses want to see some changes that can help them take back control over their hard-earned money. With Bannon becoming the latest forerunner of the ongoing crypto adoption struggle, it will be interesting to see how things continue to play out from here on out.
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