Morgan Stanley exec says Bitcoin is the ‘Kenny from South Park’ of money

Dennis Lynch, Morgan Stanleys Head of Investments, shared a humorous analogy at Morningstars annual investment conference today. He claimed that Bitcoins insatiable ability and willingness to rise above technical and fundamental adversity is reminiscent of Kenny from South Park.

The shows 24-part series has attracted a worldwide audience for its bizarre and absurd sense of humor. It is best known for the gag in which Kenny dies in every episode. Each subsequent episode sees him reborn and blissfully unaware of his death.

Lynch, who is the Head of Asset Management firm Counterpoint, a Morgan Stanley subsidiary, stated his belief in the resilience and value of Bitcoin, the leading cryptocurrency asset, since its inception more than a decade ago.

After enduring and surviving many bearish cycles, Bitcoin is now a well-recognized and respected modern payment system and store of value on the mainstream market.

Microstrategy and Tesla are just a few of the major corporations that have publicly disclosed billion-dollar investments in the asset. The latter reports a staggering $5.3 billion.

Lynch made these remarks in his Kenny-inspired speech:

“I like to compare bitcoin to Kenny from South Park. He dies in every episode and then comes back.”

Cointelegraph Markets technical data shows that Bitcoin (BTC), has fallen 14.04% over the past week following yet another Chinese crackdown.

This week, the Peoples Bank of China (PBoC) announced a new strategy to counter cryptocurrency adoption in China. To effectively suppress cryptocurrency-related activities, legal and government departments will work together to improve coordination.

Lynch claims that Bitcoin has some of the same antifragile characteristics as big-tech firms and capital-hungry Wall Street financial market. This is to counter the fact that Lynch believes Bitcoin already has these traits.

“I believe (bitcoin), demonstrates some antifragile qualities during this time.”

In his 2012 book, Nassim Nicholas Taleb coined the term antifragile to describe the opposite of fragility. It is something that gains from disorder.

Taleb wrote the following in his book:

Antifragility goes beyond resilience and robustness. The resilient is resilient to shocks and remains the same, while the antifragile becomes better.

This is a well-known example. Bitcoins prior all-time high was $20,000 in 2018, which seemed impossible during the bear market. It was also difficult to believe that it would surpass $65,000 one year later, especially after the financial crash to $4K.

https://cointelegraph.com/news/morgan-stanley-exec-says-bitcoin-is-the-kenny-from-south-park-of-money