Morgan Creek Capital CEO believes the world is going to ditch banks inevitably

Quick take

1 minute read

• This year has definitely been an eventful one. 

• The crisis of coronavirus and the economic turmoil that came, as a result, is one that many of us are probably wanting to forget. 

• For the world of cryptocurrency though, the crisis provided a unique opportunity. 

This year has definitely been an eventful one. The crisis of coronavirus and the economic turmoil that came as a result is one that many of us are probably wanting to forget. For the world of cryptocurrency though, the crisis provided a unique opportunity. 

More and more people wanted to go cashless, getting rid of paper money and replacing it with a digital counterpart. Whereas that definitely doesn’t necessarily mean cryptocurrency is the answer, may believe that the world is going towards a cashless society. To that end, the chief executive officer of Morgan Creek Capital, Mark Yusko believes that the world is going towards a bankless society due to the natural evolution of technology.

He went on to say in an interview earlier this year in October that a “silence revolution“ is occurring and has been brought on thanks to the world of cryptocurrency. Eventually, he adds, it’s calm will lead the world to ditch banks in the end. 

Of course, this doesn’t mean that banks will disappear completely as he goes on to say:

“We will still need banks to do lending, digital currencies, or digital fiat to go along with crypto at the core. But the idea that we’re moving to a global borderless world, and nation-states will become less important, global systems will become more important, and you can be a citizen of the world as opposed to a citizen of a single nation-state.”

As the chief executive officer, chief investment officer and founder of Morgan Creek Capital, Mark knows what he’s talking about when it comes to the financial world. 

Founded in 2004 in order to provide investment management services to big institutions, the company has gone from strength to strength and is now one of the biggest conglomerate companies in the world. 

Morgan Creek capital is also known nowadays for running a dedicated digital asset investment business known as Morgan Creek digital. The subsidiary of the company was co-founded by Mark and Anthony Pompliano. The latter has been very vocal about his views on the leading cryptocurrency advocating for it and even predicting that it will eventually break the $400,000 key resistance level.

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