According to a multi-billion dollar Morgan Creek Capital CEO, the non-banking world cannot be avoided because of “the natural evolution of technology.”
The company’s CEO, Mark Yosko, believes that the “quiet revolution” driven by cryptocurrencies such as Bitcoin (BTC) will eventually lead the world to a non-banking society.
In an October 13 interview with Brazilian Dash Dinheiro Digital on YouTube about Dash, Yusko said that over time, people around the world will be able to “control themselves with encryption.”
Despite his claims about the non-banking community, the CEO pointed out that this does not mean that the banks will disappear completely and said:
“We will still need banks for lending, digital or mandatory digital currencies to support cryptocurrency. But the idea that we are moving into a world without global borders, nation states will become less important, global systems will become more important, and you can be a world citizen instead of a citizen of a nation state.
Yusko is the founder, CEO and chief investment officer of Morgan Creek Capital Management. The company was founded in 2004 to provide investment management services to institutions and families with high net worth, and to develop discretionary strategies to help clients design investment programs.
Morgan Creek Capital is known for running a digital investment business known as Morgan Creek Digital. Co-founders of the subsidiary Josco and Anthony Pompiliano. In August 2020, Pompliano predicted that Bitcoin would eventually take over a large share of the gold market and break the $ 400,000 threshold.