Morgan Stanley CEO Says Bitcoin is the “South Park Kenny” of money

Morgan Stanley‘s Dennis Lynch shared a gentle analogy during a panel discussion at Morningstar’s annual investment conference today, claiming that Bitcoin’s insatiable ability to weather and achieve adversity is derived from the fundamental and technical adversity that the South Park cartoon character posed Kenny represented has risen.

The 24-part show has gained worldwide audiences thanks to its weird and eccentric humor, demonstrated by the age-old gag that Kenny dies in every episode only to suffer applause and joy.

The head of wealth management firm Counterpoint – a subsidiary of Morgan Stanley – and an ardent supporter of the program, Lynch, has expressed confidence in the resilience of the leading crypto asset, Bitcoin, since its inception more than a decade ago.

After going through and surviving many bearish cycles, Bitcoin has established itself as a widely recognized and respected modern payment method and store of value in the mainstream market.

Big companies like Microstrategy, Tesla, and Galaxy Digital Holdings have all announced billions of dollars in investments in assets that are now reporting a whopping $ 5.3 billion.

In his Kenny-inspired speech, Lynch said:

“I’d say Bitcoin is like Kenny from South Park – he dies every episode and comes back.”

Technical data from Cointelegraph Markets shows that Bitcoin (BTC) fell 14.04% in the week following another round of the Chinese crypto crackdown.

The People’s Bank of China (PBoC) this week announced a new strategy to combat the use of cryptocurrencies in the country. The legal and government departments will strive to improve coordination and communication activities to effectively prevent crypto-related activities.

However, according to Lynch, Bitcoin already has some of the same defragmentation characteristics – attested to in the monopolies of large tech companies, a burgeoning political base, the financial markets of the United States. to fight this.

“I think (Bitcoin) has some ‘defragmentation’ qualities this time around.”

The term defragmentation was coined by the respected author Nassim Nicholas Taleb in his 2012 book to represent the opposite definition of fragility, where something arises from disorder.

In the book Taleb writes:

“Defragmentation is not beyond resilience or durability. Defragmentation resists bumps and stays the same; The defragmentation is getting better and better. “

A well-documented example of this is Bitcoin’s all-time high so far of $ 20,000, a number that seemed insurmountable during the extreme bear market of 2018-19 – and especially after the financial pandemic collapsed to 4K – but more than 65,000 a year later Dollars tripled.

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