A bankless world is inevitable due to the “natural evolution of technology,” consistent with a renowned executive at a multi-billion dollar investment manager, Morgan Creek Capital.
The firm’s CEO Mark Yusko added that a “silent revolution” powered by crypto assets like Bitcoin [BTC] will eventually lead the planet to a bankless society.
Within an official interview on 13th Oct. with Brazilian Dash-focused YouTube channel Dash Dinheiro Digital, Yusko added that individuals around the world will, in time, be ready to “bank themselves via crypto’s.”
Despite his claims regarding a bankless society, the CEO added that he doesn’t mean banks will disappear entirely, adding:
“We will still need banks to do lending, virtual currencies, or digital fiat to travel alongside crypto at the core. But the thought that we’re moving to a worldwide borderless world, and nation-states will subside important, global systems will become more important, and you’ll be a citizen of the global as against a citizen of one nation-state.”
Yusko is the founder, CEO as well as chief investment officer of Morgan Creek Capital Management. The firm was founded earlier in 2004 to offer investment management services to institutions and wealthy families & discretionary strategies to help clients in building investment programs.
Morgan Creek Capital is understood for operating a dedicated virtual asset investment business referred to as Morgan Creek Digital. The subsidiary is co-founded by Yusko & Anthony Pompliano. Earlier in August this year, Pompliano anticipated that Bitcoin will eventually capture more of the market than gold, breaking the $400k threshold.