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Morgan Stanley Executive, Dennis Lynch, made a striking comparison when he said says that bitcoin’s resilience is like Kenny from the popular series South Park. Running for 24 seasons now, in almost every episode of the first five seasons, Kenny dies to be back alive in the next, resembling how Bitcoin bounces back every time. “Oh my God, they killed Kenny! You bastards!”, as the popular phrase in the series goes.
Lynch, head of the Counterpoint Global team at Morgan Stanley Investment Management, discussed Bitcoin’s resilience at the Morningstar’s annual investment conference on Thursday. Lynch’s Counterpoint Global team invests primarily in established and emerging companies globally.”
According to Lynch, cryptocurrency has the ability to recover and bounce back from huge dips and massive sell-offs, just like Kenny. He said:
“I like to say that bitcoin’s kind of like Kenny from South Park, he dies every episode, and is back again.”
The Morgan Stanley head said that just like Kenny, Bitcoin keeps coming back and that it “demonstrates some ‘anti-fragile’ qualities”.
“It kind of sits in the portfolio in a small manner, that it possibly is something that can go right when the rest of our portfolios having something go wrong … Ten years from now, given Bitcoin’s persistence, is worth a small speculation.”
Given the U.S. government’s stimulus policy and its Federal Reserve’s “accommodating” policy, Lynch said he can understand Bitcoin to be “benefiting from different environments, whether people look at it as a digital gold, or people start to really question fiat currency, given all the stimulus and the policy there.”
Taken from “Bitcoin Obituaries”, by 99 Bitcoin, a site that “translates Bitcoin to plain English”, the top cryptocurrency has so far died 430 times during its existence of which 37 times this year. In comparison, according to South Park Archives, the total number of Kenny’s deaths is listed at 126.
Morgan Stanley recently launched their dedicated cryptocurrency research team after it became the first major U.S. bank to include Bitcoin to its client offering back in March.