Morgan Creek CEO: A society without banks is ‚inevitable‘ thanks to crypto-currency

People will be able to bankroll themselves with the cryptosystems.

A senior executive at billionaire investment manager Morgan Creek Capital says a world without banks is inevitable because of the „natural evolution of technology“.

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The company’s CEO, Mark Yusko, believes that a „silent revolution“ driven by crypto currencies such as Bitcoin (BTC) will eventually lead the world to a society without banks.

In an October 13 interview on Brazil’s „Dinheiro Digital“ YouTube channel, Yusko said people around the world will eventually be able to „bank through crypto currencies.

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Despite his claims about a society without banks, the CEO said he does not mean that banks will disappear completely, he said:

„We will continue to need banks to make loans, digital currencies or digital fiat to accompany the crypt coins in the core. But the idea that we are moving towards a global world without borders, and nation states will become less important, global systems will become more important and you can be a citizen of the world rather than a citizen of a single 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 wealthy families, as well as discretionary strategies to help clients develop investment programs.

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Morgan Creek Capital is known for running a dedicated digital asset investment business known as Morgan Creek Digital. The subsidiary is co-founded by Yusko and Anthony Pompliano. In August 2020, Pompliano predicted that Bitcoin would eventually capture more market than gold, breaking the $400,000 threshold.