The former chief strategist of the Donald Trump administration, the well-known conservative and head of the board of directors of Breitbart News, Stephen Bannon said that the current geopolitical situation contributes to the development and adoption of cryptocurrency.

"I think cryptocurrencies have a big future," says Steve Bannon. "I think it’s a global populist revolt." Pic.twitter.com/lYce7qzrIY

– Squawk Box (@SquawkCNBC) August 2, 2019

“I think that cryptocurrency has a great future, especially in the conditions of today's global uprising of populists ,” said Bannon.

He also stressed that the government and banking business intend to achieve strict regulation of the cryptocurrency industry, since they are not going to abandon fiat money.

At the same time, he suggested that the Libra project from Facebook is directed against the Chinese payment systems from Alibaba [AliPay] and Tencent [WeChat].

"It is necessary to confront China and third world countries in Africa, South Asia and, probably, Latin America, where these payment systems are being actively developed, which can give them global domination and the ability to deprive the US dollar of its reserve currency status."

He is also convinced that the trade war between the United States and China is the defining moment of our time, and it is on its outcome that the future development of the whole world depends.

The trade war is “the defining event of our time,” says Steve Bannon. "This is a history in real time …. This is the fundamental reason why @realDonaldTrump is the president of the United States." Pic.twitter.com/lrXRJzysdc

– Squawk Box (@SquawkCNBC) August 2, 2019

According to him, Beijing hopes that in 2020 the White House will be occupied by a representative of the Democratic Party.

"The Chinese are hoping for a democratic administration," says Steve Bannon who calls # 2020 candidates Biden and Harris "weak on China." Pic.twitter.com/FXgawhla1L

– Squawk Box (@SquawkCNBC) August 2, 2019

Recall that in the past Bannon has already said that cryptocurrency "will free people" from the control of central banks and financial elites. He believes that only populist nationalist movements can break the global culture of economic oppression.

He also considered the possibility of conducting an ICO and creating his own cryptocurrency.

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