Morgan Stanley Executive Compares Bitcoin's Resilience to Kenny Dying in Every South Park Episode

Morgan Stanley Investment Management's Dennis Lynch says Bitcoin's resilience is like Kenny from the popular TV series South Park. In almost every episode, Kenny died in a comical way but always came back, just like Bitcoin bounces back every time after a bear market.

Bitcoin Is Similar to Kenny in South Park, Says Morgan Stanley Executive

Morgan Stanley's Dennis Lynch spoke about Bitcoin's resilience at Morningstar's annual investment conference on Thursday. Lynch is head of the Counterpoint Global team at Morgan Stanley Investment Management, the bank's wealth 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 company says on its website.

Lynch compared the cryptocurrency's ability to bounce back and rebound from bear markets and massive sell-offs to Kenny, a character from the popular TV cartoon series South Park, stating:

I like to say that Bitcoin is a bit like Kenny from South Park - he dies and comes back every episode.

The South Park show follows the stories of four boys: Stan Marsh, Kyle Broflovski, Eric Cartman and Kenny McCormick. During the show's first five seasons, Kenny died in almost every episode before returning in the next with little to no definitive explanation.

The Morgan Stanley executive said that like Kenny from the Comedy Central franchise, Bitcoin keeps coming back.

Accordingly " Bitcoin obituaries ” of 99 Bitcoin, BTC has died 430 times, including 37 times this year. In comparison, the cryptocurrency only died 14 times in 2020 and 41 times in 2019.

Lynch added that Bitcoin “has some ‘antifragile’ properties,” stating:

It's kind of small in the portfolio that it might be something that can go right when the rest of our portfolios go a little wrong... Ten years from now, Bitcoin's persistence is worth a little speculation.

The executive said he could see Bitcoin "benefiting from different environments, whether people view it as digital gold or really question the fiat currency given all the incentives and politics there," citing the Fed's "accommodative" policies and low interest rate environment.

Morgan Stanley was one of the first major banks to adopt Bitcoin. The company made Bitcoin funds available to customers back in March and added Bitcoin 12 mutual funds ‚ Investment strategies in the following month. In addition, the global investment bank recently launched its own Cryptocurrency research team.

What do you think about comparing Bitcoin to Kenny from South Park? Let us know in the comments section below.

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