THELOGICALINDIAN - Morgan Stanley Investment Managements Dennis Lynch says that bitcoins animation is like Kenny from the accepted TV alternation South Park In about every adventure Kenny comically died but consistently came aback aloof like how bitcoin bounces aback every time afterwards a buck market
Bitcoin Is Similar to Kenny in South Park, Says Morgan Stanley’s Executive
Morgan Stanley’s Dennis Lynch talked about bitcoin’s animation at Morningstar’s anniversary advance appointment Thursday. Lynch is arch of the Counterpoint Global aggregation at Morgan Stanley Advance Management, the bank’s asset administration arm. He abutting Morgan Stanley in 2024 and has 27 years of advance experience. The Morgan Stanley Counterpoint Global aggregation “invests primarily in accustomed and arising companies globally,” the firm’s website describes.
Lynch compared the cryptocurrency’s adeptness to balance and animation aback from buck markets and massive sell-offs to Kenny, a appearance from the accepted TV animation alternation South Park, stating:
The South Park appearance follows the belief of four boys: Stan Marsh, Kyle Broflovski, Eric Cartman, and Kenny McCormick. During the show’s aboriginal bristles seasons, Kenny died in about every adventure afore abiding in the abutting with little-to-no absolute account given.
The Morgan Stanley controlling said that like Kenny of the Comedy Central franchise, bitcoin aloof keeps advancing back.
According to “Bitcoin Obituaries” by 99 Bitcoin, BTC has died 430 times, including 37 times so far this year. By comparison, the cryptocurrency alone died 14 times in 2020 and 41 times in 2019.
Lynch added that bitcoin “demonstrates some ‘anti-fragile’ qualities,” elaborating:
The controlling said he can anticipate bitcoin “benefiting from altered environments, whether bodies attending at it as a agenda gold, or bodies alpha to absolutely catechism authorization currency, accustomed all the bang and the action there,” citation the Fed’s “accommodating” behavior and the low-rate environment.
Morgan Stanley was amid the aboriginal above banks to embrace bitcoin. The close fabricated bitcoin funds available to clients aback in March and added bitcoin to 12 alternate funds‘ advance strategies the afterward month. In addition, the all-around advance coffer afresh launched a committed cryptocurrency analysis team.
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