Bahama Times

Thursday, Mar 28, 2024

Morgan Stanley Executive: 'Bitcoin Is Like Kenny From South Park'

Morgan Stanley Executive: 'Bitcoin Is Like Kenny From South Park'

Bitcoin is like Kenny from South Park, who dies every episode but comes back again in the next one, says Morgan Stanley executive, Dennis Lynch.

According to Dennis Lynch, the Head of Counterpoint Global at Morgan Stanley Investment Management, bitcoin has the ability to gain in times of economic disruption and he referred to the asset as “anti-fragile.”

In a recent conference, the Morgan Stanley executive, Dennis Lynch, revealed his positive views on the largest crypto asset, bitcoin. He sees it as “anti-fragile,” meaning that it could resist market disorders and even prosper when other assets would collapse. Lynch made an interesting comparison between the leading cryptocurrency and one of the main characters in the award-winning animated series “South Park:”

“I like to say that bitcoin is kind of like Kenny from South Park, you know, the guy dies every episode and he’s back again.”

Lynch shared that he owns bitcoin, and he believes that the asset represents a global trend that society follows, making it one of the factors when looking for innovation:

“Owing a little bit of something where things can go right, but also knowing that there are some things that go can go wrong is not unreasonable when you have a world that has such disruption occurring, and where these upside scenarios wind up being so large.”

He does see some risks in crypto, as governments stand is not clear on the asset class. Should governments not ban crypto, having bitcoin exposure could only bring profits to hodlers in the near future, he points out.

The primary cryptocurrency has been announced “dead” more than 400 times already. Despite its price crashes throughout the years, it has always managed to overcome the difficulties, and now, 12 years after its creation, it stands as an asset with a market cap of almost $1 trillion.

The swinging opinion from mainstream media is a valid example. Back in 2018, some of the most common headlines were: “Bitcoin is dead,” “It’s the end for Bitcoin,” “Bitcoin is a bubble,” or “Bitcoin is a Ponzi scheme.” It is worth noting that the asset’s USD value had crashed heavily, and not many people expected it to recover. But it did.

The cryptocurrency not only got back on its feet but continued towards unseen peaks just a few years later. Its merits grabbed the attention of many giant corporations and billionaire investors who started diversifying their portfolios with BTC.

Source: Morgan Stanley Executive: 'Bitcoin Is Like Kenny From South Park' – Fintechs.fi

Newsletter

Related Articles

Bahama Times
0:00
0:00
Close
Paper straws found to contain long-lasting and potentially toxic chemicals - study
FTX's Bankman-Fried headed for jail after judge revokes bail
Blackrock gets half a trillion dollar deal to rebuild Ukraine
Israel: Unprecedented Civil Disobedience Looms as IDF Reservists Protest Judiciary Reform
America's First New Nuclear Reactor in Nearly Seven Years Begins Operations
Southeast Asia moves closer to economic unity with new regional payments system
Today Hunter Biden’s best friend and business associate, Devon Archer, testified that Joe Biden met in Georgetown with Russian Moscow Mayor's Wife Yelena Baturina who later paid Hunter Biden $3.5 million in so called “consulting fees”
Singapore Carries Out First Execution of a Woman in Two Decades Amid Capital Punishment Debate
Google testing journalism AI. We are doing it already 2 years, and without Google biased propoganda and manipulated censorship
Unlike illegal imigrants coming by boats - US Citizens Will Need Visa To Travel To Europe in 2024
Musk announces Twitter name and logo change to X.com
The politician and the journalist lost control and started fighting on live broadcast.
The future of sports
Unveiling the Black Hole: The Mysterious Fate of EU's Aid to Ukraine
Farewell to a Music Titan: Tony Bennett, Renowned Jazz and Pop Vocalist, Passes Away at 96
Alarming Behavior Among Florida's Sharks Raises Concerns Over Possible Cocaine Exposure
Transgender Exclusion in Miss Italy Stirs Controversy Amidst Changing Global Beauty Pageant Landscape
Joe Biden admitted, in his own words, that he delivered what he promised in exchange for the $10 million bribe he received from the Ukraine Oil Company.
TikTok Takes On Spotify And Apple, Launches Own Music Service
Global Trend: Using Anti-Fake News Laws as Censorship Tools - A Deep Dive into Tunisia's Scenario
Arresting Putin During South African Visit Would Equate to War Declaration, Asserts President Ramaphosa
Hacktivist Collective Anonymous Launches 'Project Disclosure' to Unearth Information on UFOs and ETIs
Typo sends millions of US military emails to Russian ally Mali
Server Arrested For Theft After Refusing To Pay A Table's $100 Restaurant Bill When They Dined & Dashed
The Changing Face of Europe: How Mass Migration is Reshaping the Political Landscape
China Urges EU to Clarify Strategic Partnership Amid Trade Tensions
Europe is boiling: Extreme Weather Conditions Prevail Across the Continent
The Last Pour: Anchor Brewing, America's Pioneer Craft Brewer, Closes After 127 Years
Democracy not: EU's Digital Commissioner Considers Shutting Down Social Media Platforms Amid Social Unrest
Sarah Silverman and Renowned Authors Lodge Copyright Infringement Case Against OpenAI and Meta
Italian Court's Controversial Ruling on Sexual Harassment Ignites Uproar
Why Do Tech Executives Support Kennedy Jr.?
The New York Times Announces Closure of its Sports Section in Favor of The Athletic
BBC Anchor Huw Edwards Hospitalized Amid Child Sex Abuse Allegations, Family Confirms
Florida Attorney General requests Meta CEO's testimony on company's platforms' alleged facilitation of illicit activities
The Distorted Mirror of actual approval ratings: Examining the True Threat to Democracy Beyond the Persona of Putin
40,000 child slaves in Congo are forced to work in cobalt mines so we can drive electric cars.
BBC Personalities Rebuke Accusations Amidst Scandal Involving Teen Exploitation
A Swift Disappointment: Why Is Taylor Swift Bypassing Canada on Her Global Tour?
Historic Moment: Edgars Rinkevics, EU's First Openly Gay Head of State, Takes Office as Latvia's President
Bye bye democracy, human rights, freedom: French Cops Can Now Secretly Activate Phone Cameras, Microphones And GPS To Spy On Citizens
The Poor Man With Money, Mark Zuckerberg, Unveils Twitter Replica with Heavy-Handed Censorship: A New Low in Innovation?
Unilever Plummets in a $2.5 Billion Free Fall, to begin with: A Reckoning for Misuse of Corporate Power Against National Interest
Beyond the Blame Game: The Need for Nuanced Perspectives on America's Complex Reality
Twitter Targets Meta: A Tangle of Trade Secrets and Copycat Culture
The Double-Edged Sword of AI: AI is linked to layoffs in industry that created it
US Sanctions on China's Chip Industry Backfire, Prompting Self-Inflicted Blowback
Meta Copy Twitter with New App, Threads
The New French Revolution
BlackRock Bitcoin ETF Application Refiled, Naming Coinbase as ‘Surveillance-Sharing’ Partner
×