Morgan Stanley’s Dennis Lynch shared a light-hearted analogy during a discussion at Morningstar’s yearly investment conference today, claiming that Bitcoin’s insatiable ability to defy the odds and rise from both technical and fundamental adversity portrays that of the South Park cartoon character Kenny.
The 24-series show has garnered a global audience base for its weird and wacky sense of humour, epitomised by the long-standing gag that Kenny dies in each episode, only to be rebirthed and gleefully unaware of his brutal demise in the following show.
Head of asset management firm Counterpoint, a Morgan Stanley subsidiary — and a keen advocate of the show — Lynch expressed his belief in the resilience of leading cryptocurrency asset Bitcoin since its inception over a decade ago.
After experiencing and surviving numerous bearish cycles, Bitcoin has established itself as a widely recognised and respected modern payment method and store of value in the mainstream market.
Major corporations such as Microstrategy, Tesla, and Galaxy Digital Holdings have all publicly revealed billion-dollar investments in the asset, the latter now reporting an immense $5.3 billion.