Morgan Stanley executive says Bitcoin is the “Kenny from South Park” of money

A Morgan Stanley executive claims that Bitcoin continues its rise from the dead, much like the South Park cartoon character Kenny. Morgan Stanley’s Dennis Lynch shared an amusing analogy at Morningstar’s annual investment conference today. He said that Bitcoin continues to rise from the dead like the South Park cartoon character Kenny. Lynch, Head of Asset Management firm Counterpoint, a Morgan Stanley subsidiary, expressed his belief that Bitcoin’s resilience has been a hallmark of modern cryptocurrency assets since its inception more than a decade ago. He also said that the asset has become a well-respected and respected payment method and store for value in the mainstream market. Major corporations like Microstrategy and Tesla have all publicly disclosed billion-dollar investments in the asset. The latter is now worth $5.3 billion. Technical data from Cointelegraph Markets shows that Bitcoin (BTC), has fallen 14.04% over the past week following yet another crackdown by China on cryptos. This week, the People’s Bank of China (PBoC) announced a new strategy to counter cryptocurrency adoption in China. To counter this, Lynch believes that Bitcoin already has some of the same antifragile characteristics as the capital-hungry Wall Street financial market and the self-rejuvenating Greek mythological beast Hydra. “I believe (bitcoin), demonstrates some antifragile qualities during this time.” The term antifragile was created by Nassim Nicholas Taleb in 2012 to describe the opposite of fragility. It is a condition that gains from disorder. Taleb stated in the book that antifragility is not resilient or robust. The resilient resists shocks, stays the same; antifragility gets better.” This is evident in Bitcoin’s previous all time high of $20,000 in 2018-19. It was a seemingly impossible figure during the severe bear market of 2018-19.

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