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News related to Crypto / Himalaya Coin has surged 270-fold since its debut this month
« on: November 14, 2021, 05:45:44 AM »
A $27 Billion Token Loved by Exiled Billionaire and Steve Bannon
Like so much in cryptocurrencies, there’s a lot to unpack with Himalaya Coin, which has quietly zoomed to an apparent $27 billion valuation in less than two weeks.
For starters, there’s the music video, “Hcoin to the Moon,” featuring exiled Chinese billionaire Wengui Guo smoking a cigar, hanging out on a yacht and driving a red sports car.
The song’s lyrics, most sung in Chinese, describe a bleak world: “Freedom, such a familiar word/But it’s unknowingly getting further and further away from me.” Other verses list the virtues of Himalaya Coin and the related Himalaya Dollar, a stablecoin tracking the U.S. dollar:
Security guarded by the most advanced encryption technology
No one can take your wealth away from you
Stablecoin, floating coin, unparalleled in the world
And 20% gold reserve attached to the value
The chorus screams over and over in English: “Welcome to the world/To the new world/Welcome to the world/Hcoin to the moon.”
“To the moon” is notable because that has become a rallying cry, the guiding hope among crypto traders that the price of a holding will surge enormously.
But support from Guo and Steve Bannon, the former Donald Trump adviser, suggests there’s more than just crypto-cheerleading at work with Himalaya Coin.
Guo and Bannon have waged a public campaign against the Chinese government for years, and comments last week from Bannon indicate this is the latest front in that battle. Himalaya Coin’s debut this month also stands out because, in September, China widened its crackdown on the use of cryptocurrencies.
Guo has touted the digital token on social media, and has a business relationship with the exchange where it trades, according to the chief executive officer of that marketplace. Bannon, during an interview last week, called Himalaya Coin’s debut “monumental” and put it in the context of his fight against China. “If you look at the institutionalization of the counteroffensive to the Chinese Communist Party, it’s pretty impressive,” Bannon said.
Himalaya Coin only appears to trade on the Himalaya Exchange. It’s not included in CoinMarketCap’s long list of global cryptocurrencies, which has become the de facto source for digital token valuations. On the Himalaya Exchange, its price has jumped from 10 cents when it started trading at the beginning of the month to about $27 now.
source : https://www.bloomberg.com/news/articles/2021-11-12/a-27-billion-token-loved-by-exiled-billionaire-and-steve-bannon
Like so much in cryptocurrencies, there’s a lot to unpack with Himalaya Coin, which has quietly zoomed to an apparent $27 billion valuation in less than two weeks.
For starters, there’s the music video, “Hcoin to the Moon,” featuring exiled Chinese billionaire Wengui Guo smoking a cigar, hanging out on a yacht and driving a red sports car.
The song’s lyrics, most sung in Chinese, describe a bleak world: “Freedom, such a familiar word/But it’s unknowingly getting further and further away from me.” Other verses list the virtues of Himalaya Coin and the related Himalaya Dollar, a stablecoin tracking the U.S. dollar:
Security guarded by the most advanced encryption technology
No one can take your wealth away from you
Stablecoin, floating coin, unparalleled in the world
And 20% gold reserve attached to the value
The chorus screams over and over in English: “Welcome to the world/To the new world/Welcome to the world/Hcoin to the moon.”
“To the moon” is notable because that has become a rallying cry, the guiding hope among crypto traders that the price of a holding will surge enormously.
But support from Guo and Steve Bannon, the former Donald Trump adviser, suggests there’s more than just crypto-cheerleading at work with Himalaya Coin.
Guo and Bannon have waged a public campaign against the Chinese government for years, and comments last week from Bannon indicate this is the latest front in that battle. Himalaya Coin’s debut this month also stands out because, in September, China widened its crackdown on the use of cryptocurrencies.
Guo has touted the digital token on social media, and has a business relationship with the exchange where it trades, according to the chief executive officer of that marketplace. Bannon, during an interview last week, called Himalaya Coin’s debut “monumental” and put it in the context of his fight against China. “If you look at the institutionalization of the counteroffensive to the Chinese Communist Party, it’s pretty impressive,” Bannon said.
Himalaya Coin only appears to trade on the Himalaya Exchange. It’s not included in CoinMarketCap’s long list of global cryptocurrencies, which has become the de facto source for digital token valuations. On the Himalaya Exchange, its price has jumped from 10 cents when it started trading at the beginning of the month to about $27 now.
source : https://www.bloomberg.com/news/articles/2021-11-12/a-27-billion-token-loved-by-exiled-billionaire-and-steve-bannon