Fun

Former Morgan Stanley CEO: Crypto Could Become ‘a Huge Way’ That Monetary Transactions Take Place

News Feed - 2022-10-16 10:10:03

Former Morgan Stanley CEO: Crypto Could Become "a Huge Way" That Monetary Transactions Take Place


Former Morgan Stanley CEO John Mack has confirmed that he still owns bitcoin. While admitting that it is hard for him to understand why crypto has value, the former executive believes that 50 years from now, crypto could be “a huge way that monetary transactions take place.” Former Morgan Stanley CEO John Mack on Bitcoin and Crypto


Former Morgan Stanley CEO John Mack talked about bitcoin and cryptocurrency in an interview with CNBC Thursday. Mack was the CEO of the global investment bank from June 2005 to January 2010.


Responding to a question about whether he currently owns bitcoin, he confirmed: “I do. Yes.” He further shared: Through my family office, we have some outright positions in crypto.


The former Morgan Stanley executive also discussed whether Wall Street will become completely digitized in the future. “I don’t think it goes away but I think it changes dramatically,” he said. “Take crypto, it’s hard for me to understand why it has value,” Mack continued, adding: 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.


The former Morgan Stanley executive 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 crypto for many years. In July 2017, he told Bloomberg while discussing his investment in crypto startup Omega One: “I have been watching and investing in the cryptocurrency market over the last several years.” Regarding Omega One, he said at the time that he finds the company “to be an important next step in the emergence of this new economy … making crypto assets cheaper and easier to access.” Tags in this story former Morgan Stanley CEO, John Mack, John Mack bitcoin, John Mack crypto, John Mack cryptocurrency, John Mack family office, John Mack owns bitcoin, John Mack owns crypto, morgan stanley


What do you think about the comments by former Morgan Stanley CEO John Mack? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Bank of America"s Survey of Wealthy Americans: Younger People Are 7.5 Times More Likely to Hold Crypto in Their Portfolios FEATURED | 5 hours ago Crypto Hackers Gross Over $3 Billion From 125 Hacks so Far This Year FEATURED | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleUS Lawmaker Calls on SEC to Issue Crypto Regulations — Says ‘a Formal Regulatory Process Is Needed Now’ Next articleBank of America’s Survey of Wealthy Americans: Younger People Are 7.5 Times More Likely to Hold Crypto in Their Portfolios Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItCentral Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year


The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.Today"s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments Fed"s Bullard Wants to Raise Bank Rate to 3.5% by Year"s End, Hints at 75 Basis Point Rate Hike

News Feed

Biggest Movers: DOGE Climbs Following Spacex News, XTZ Rebounds From Recent Losses
Biggest Movers: DOGE Climbs Following Spacex News, XTZ Rebounds From Recent Losses DOGE rose on Saturday, following yesterday’s tweets from Elon Musk confirming that Spacex
Cointelegraph Accelerator7 hours agoRevolutionizing whitelist marketplace for Web3: WhiteList Zone partners with Cointelegraph AcceleratorThe whitelist marketplace WhiteList Zone onboarded over 50 projects that collectiv
Gold and Silver Prices Slide Lower Following US Jobs Report — Analyst Says Data Suggests ‘Market Bottom Is in Place’
Gold and Silver Prices Slide Lower Following US Jobs Report — Analyst Says Data Suggests "Market Bottom Is in Place" On Friday, October 7, 2022, the precious metals gold and silv
Judge Grants Injunction Halting Telegram’s TON Release Again, Notice of Appeal Reportedly Filed
Judge Grants Injunction Halting Telegram"s TON Release Again, Notice of Appeal Reportedly Filed The embattled Telegram Open Network (TON) blockchain and its native gram cryptocur
Savannah Fortis14 hours agoNvidia drops new AI chip expected to cut development costsNvidia, the current market leader for semiconductor chips, revealed its latest chip designed to run large-scale AI systems.2542 Total v
How to Recover a Lost Dogechain.info Wallet Password and Unblock 2FA – KeychainX Expert Explains
How to Recover a Lost Dogechain.info Wallet Password and Unblock 2FA - KeychainX Expert Explains sponsored Have you lost the password for a Dogechain.info wallet or have it locked b
Bank of Russia Proposes Wide Ban on Cryptocurrency Use, Trade, Mining
Bank of Russia Proposes Wide Ban on Cryptocurrency Use, Trade, Mining True to its hardline stance on decentralized digital money, the Central Bank of Russia is now pushing for a wi
Arijit Sarkar7 hours agoIndian state governments spur blockchain adoption in public administrationNumerous initiatives by local and state governments in India — from data management systems to verifiable certificate is
Declining Interest Leads to Poor Market Performance for Ethereum Proof-of-Work Forks
Declining Interest Leads to Poor Market Performance for Ethereum Proof-of-Work Forks After transitioning from proof-of-work (PoW) to proof-of-stake (PoS), the Ethereum community sa
US sanctions Russian crypto platforms for money laundering ties
Derek Andersen3 hours agoUS sanctions Russian crypto platforms for money laundering tiesTwo crypto exchanges and two individuals have been sanctioned for ties to underground finance.1864 Total views4 Total sharesListen t
David Attlee22 minutes agoJapanese yen-backed digital currency, DCJPY, to go live in July 2024Digital currency and electronic payments business DeCurret Holdings intends to launch the coin in July 2024.122 Total viewsLis
CashPay : E-Commerce Marketplace Powered by Cryptocurrency Launched
CashPay : E-Commerce Marketplace Powered by Cryptocurrency Launched PRESS RELEASE. CashPay brings ecommerce a step closer to Blockchain Technology through an ope