Dennis Lynch of Morgan Stanley Investment Management said Bitcoin’s resilience is similar to that of Kenny in the popular TV series South Park. In almost every episode, Kenny dies ridiculously but always comes back, just as Bitcoin comes back after every bear market.
Bitcoin is like Kenny in South Park, says an executive at Morgan Stanley
Dennis Lynch of Morgan Stanley spoke about the resilience of bitcoin at the Morningstar Annual Investment Conference on Thursday. Morgan Stanley is the head of the Counterpoint Global team of investment management at Lynch Bank’s asset management arm. He joined Morgan Stanley in 1998 and has 27 years of investment experience. The Morgan Stanley Counterpoint Global team “invests primarily in established and emerging companies worldwide,” the firm’s website describes.
Lynch compared the recovery of cryptocurrency and the ability of bears to return to the market and stop mass sales, a character from the popular TV cartoon series South Park, which mentions:
I mean the bitcoin type is like Kenny from South Park – he dies every episode, and comes back again.
The South Park show follows the stories of four boys: Stan Marsh, Kyle Broflowski, Eric Kurtman and Kenny McCormick. During the first five seasons of the show, little-to-no specific explanation was given before Kenny died in almost every episode before returning to the next one.
The Morgan Stanley executive said that Bitcoin, like Kenny in the comedy Central franchise, is also coming back.
According to “Bitcoin Obitarians” by 99 Bitcoin, BTC has died 430 times, of which 37 times so far this year. By comparison, cryptocurrencies only died 14 times in 2020 and 41 times in 2019.
Lynch added that Bitcoin “exhibits some ‘anti-fragile’ properties,” in detail:
It sits in a small way in the portfolio, it is probably something that can be right when something goes wrong in the rest of our portfolio.
The executive said he could imagine Bitcoin “benefiting from a variety of environments, whether people see it as digital gold, or whether people are really questioning Fiat currency, based on all stimuli and policies, the Fed’s” consistent “policy and low-rate environment. .
Morgan Stanley was one of the first major banks to accept bitcoin. The company provided bitcoin funds to customers in March and added bitcoin to 12 mutual fund investment strategies the following month. In addition, Global Investment Bank recently launched a dedicated cryptocurrency research team.
What do you think about comparing Bitcoin with Kenny from South Park? Let us know in the comments section below.
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