In particular, former Morgan Stanley (NYSE: MS) CEO John Mack has acknowledged that in the coming decades, cryptocurrencies will be “a huge way that monetary transactions take place,” he said during an interview with CNBC on October 13. According to Mack, digital assets come with several benefits over the traditional financial sector, noting that cryptocurrencies will play a key role in digitizing the economy.
An electronic future
At the same time, Mack highlighted some of the key elements to power a digital economy that people will be looking out for. According to Mack:
Crypto investments
Furthermore, Mack revealed that he still owns Bitcoin (BTC) despite the ongoing market correction that has seen the flagship cryptocurrency correct by over 70% from its all-time high of almost $69,000 in late 2021. Mack added that he has also invested in some hedge funds that have exposure to cryptocurrencies, while his family office has some positions in digital assets. Notably, the former executive has invested in digital assets for a long time through crypto startup Omega One. Watch the full interview below: Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
