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...
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