Skip to content

Morgan Stanley’s Lynch: Bitcoin is like South Park’s Kenny, dies every episode but comes back

Morgan Stanley's Lynch: Bitcoin is like Kenny from South Park that 'dies every episode'

Morgan Stanley’s head of Counterpoint Global Dennis Lynch has likened Bitcoin’s ability to recover from market crashes to TV character Kenny from the South Park comical show. 

Lynch, who believes Bitcoin has anti-fragile qualities, suggests that the asset mirrors the Kenny character that usually returns to life after dying every episode. 

His sentiments come after Bitcoin experienced one of the most volatile weeks this year, losing almost 10% on Monday. However, the asset’s recovery momentum was dealt a blow on Friday in the wake of Chinese authorities announcing a fresh crackdown on cryptocurrency trading.

Speaking during Morningstar’s annual investment conference, Lynch also stated that despite the volatility, Bitcoin is good for investment portfolios. 

“I like to say that bitcoin’s kind of like Kenny from South Park – he dies every episode and is back again…I think (Bitcoin) demonstrates some ‘anti-fragile qualities during this period – anti-fragile being something that gains from disorder,” he said. 

‘Bitcoin can thrive in most environments’

He further projected that Bitcoin will thrive in most environments while stating that some people are considering the asset digital gold. 

Lynch added that policies from the Federal Reserve to cushion the economy against the effects of the coronavirus pandemic have been supporting Bitcoin’s growth. He suggested that Bitcoin can thrive amid the low-interest rates environment and the debasement of the dollar. 

While Bitcoin was eyeing the $45,000 mark, the asset has corrected trading at $42,300 by press time in the wake of the Chinese move. Interestingly, the gains in Bitcoin pushed the market cap of cryptocurrencies to hit $2 trillion at some point. However, the market wiped off $100 billion in minutes. 

Notably, like Lynch, other market analysts believe that Bitcoin will survive any correction emanating from regulatory action. According to the author of ‘The Bitcoin Standard’ Saifedean Ammous, despite China’s increased crackdown on Bitcoin, the asset’s long-term prospects are still intact.

[coinbase]

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Read Next:

Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Sign Up

or

By submitting my information, I agree to the Privacy Policy and Terms of Service.

Already have an account? Sign In

Services

IMPORTANT NOTICE

Finbold is a news and information website. This Site may contain sponsored content, advertisements, and third-party materials, for which Finbold expressly disclaims any liability.

RISK WARNING: Cryptocurrencies are high-risk investments and you should not expect to be protected if something goes wrong. Don’t invest unless you’re prepared to lose all the money you invest. (Click here to learn more about cryptocurrency risks.)

By accessing this Site, you acknowledge that you understand these risks and that Finbold bears no responsibility for any losses, damages, or consequences resulting from your use of the Site or reliance on its content. Click here to learn more.