Former Morgan Stanley CEO John Mack Has Confirmed That He Still Owns Bitcoin

In an interview with CNBC on Thursday, the Former Morgan Stanley CEO stated that it is difficult for him to appreciate the value of cryptocurrency. The former executive explained why, 50 years from now, cryptocurrency might be “a huge way that monetary transactions take place.”

Former Morgan Stanley CEO John Mack discussed Bitcoin and cryptocurrencies. From June 2005 to January 2010, Mack was the CEO of the global investment bank.

In response to a query concerning whether or not he now holds Bitcoin, he stated, “I do. Yes.” He went on to say:

“Through my family office, we have some outright positions in crypto.”

The former Morgan Stanley executive also pondered if Wall Street would eventually be totally digitized:

“I don’t think it goes away but I think it changes dramatically. Take crypto, it’s hard for me to understand why it has value. Fifty years from now maybe that will be a huge way that monetary transactions take place. It’s easy to wire. You don’t have to worry about putting in a bank. It’s on a computer.”

John Mack opined:

“You gotta make sure it’s insulated, protected, and no one can break into it. Fifty years from now, I think things will be even more electronic and driven more and more by input from humans in the computers on how to trade, how to take risks, and make sure they don’t go over their limits.”

Mack has been investing in cryptocurrency for some years. In July 2017, he started his stake in the cryptocurrency firm Omega One. Regarding this firm, he stated at the time that he believed it was a vital next step in the formation of this new economy, as well as in making crypto assets more affordable and accessible.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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