John Mack, the former chief executive officer (CEO) at Morgan Stanley has recently made a statement favoring the cryptocurrency industry.

It was during an interview with one of the major news channels that John Mack shared his thoughts about the adoption of cryptocurrencies by the mainstream sector.

John Mack’s Support for Cryptocurrencies

Last Thursday, John Mack was interviewed by CNBC about the current situation and future of Morgan Stanley. During the interview, John Mack was asked if cryptocurrencies would have a role to play in Morgan Stanley’s growth in the future.

Mack, who was the chief executive at Morgan Stanley from June 2005 to January 2010, revealed he currently owns Bitcoin.

Mack confirmed that he owns Bitcoin (BTC) through his private investment management company. He hinted that he also owns altcoins but he did not confirm which ones.

However, the former Morgan Stanley CEO openly confirmed that he owns Bitcoin. Over the years, Mack has proven to be quite vocal about the significance of cryptocurrencies.

He has continued advocating Bitcoin and to this day, he has continued supporting Bitcoin.

Mack’s Prediction involving Wall Street and Crypto

Mack stated that the future of Wall Street is incomplete without the incorporation of digitalization. Soon, Wall Street would become digitized, because cryptocurrencies are gaining fast momentum.

He stated that soon or later, everyone who is connected with Wall Street would start stressing upon the adoption of cryptocurrencies.

As the cryptocurrency industry is gaining momentum and attraction, all kinds of investors want to get their hands on the technology.

Therefore, Wall Street would soon adopt cryptocurrencies and move towards digitalization.

People Like to Move to Digitalization

With the passage of time, people have grown used to more and more conveniences, which is where cryptocurrencies come in.

Over time, people would trust their computers more than the systems offered by banks. As cryptocurrencies promote privacy, people would continue moving to cryptocurrencies.

Morgan Stanley to Enter Crypto

Mack also talked about the future of Morgan Stanley involving cryptocurrencies. He stated that being a major financial investment entity in the United States, it is important for Morgan Stanley to stay trendy.

The investment firm has to make more investments to support new crypto projects and explore the crypto-blockchain industry as much as possible.

Even the appetite of traditional investors is growing for cryptocurrencies. Therefore, it is important for firms such as Morgan Stanley to adopt cryptocurrencies and offer them to their clients.

However, they will need to ensure that they make the adoption of cryptocurrencies easier, protected, and insulated for the benefit of investors.

He stated that as the USD continues to weaken, Bitcoin is finding itself a highly preferred hedge fund. Above all, traditional investment firms must consider adopting Bitcoin.