Former Morgan Stanley CEO Says He Owns Bitcoin

Last week, John Mack, who is the former CEO of financial services giant Morgan Stanley, shared his thoughts on crypto.

His comments were made during an interview with Andrew Ross Sorkin, co-anchor of CNBC’s “Squawk Box”.

Mack had this to say about crypto:

“Take crypto… For me, it’s hard to understand why does it have value. So, 50 years from now, maybe that’ll be a huge way that monetary transactions take place. It’s easy to wire, you don’t have to worry about putting it in a bank, it’s all on a computer, you got to make sure it’s insulated, protected, and no-one can break into it. But 50 years from now, I think things will be even more electronic and driven more and more by input from humans into computers on how to trade, how to take risk, and to make sure they don’t go over their limits.“

Mack was then asked if he owned any Bitcoin.

He replied:

“I do. Look, I’m in a company called Current. A young man who started this company, I put money with him. Zoe Cruz… she runs a fund, I’m invested in her. And then through my family office, we have some positions in crypto.“

Mack also talked about crypto in July 2017 during an interview with Bloomberg:

“I have been watching and investing in the cryptocurrency market over the last several years, and as a Venture One portfolio company, I find Omega One to be an important next step in the emergence of this new economy. We think Omega One is going to be transformative because it benefits the entire ecosystem — making crypto assets cheaper and easier to access.“

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