Dennis Lynch of Morgan Stanley shared a light-hearted analogy in a discussion at the Morningstar Annual Investment Conference today, claiming that Bitcoin’s insatiable ability to overcome difficulties and rise from technological and fundamental adversity portrays the South Park cartoon The image of the character Kenny.
This 24-episode series has won a global audience for its quirky and quirky sense of humor, which is reflected in the long-term gimmick that Kenny passes away in each episode, just being reborn and happily not knowing that he is in the next show Cruel death.
The head of the asset management company Counterpoint-a subsidiary of Morgan Stanley-is also an ardent advocate of the show, and Lynch expressed his belief in the resilience of the leading cryptocurrency asset Bitcoin since its inception more than a decade ago .
After experiencing and experiencing countless bear market cycles, Bitcoin has become a widely recognized and respected modern payment method and value storage method in the mainstream market.
Big companies such as Micro strategy, Tesla, and Galaxy Digital Holdings have all publicly disclosed billions of dollars in investments in the asset, and the latter now reports a huge investment of $5.3 billion.
In a speech inspired by Kenny, Lynch said:
“I want to say that Bitcoin is a bit like Kenny in South Park-he died every episode and then came back.”
The People’s Bank of China (PBoC) announced a New strategies to combat cryptocurrency adoption domestic. Legal and government departments will strive to improve coordination and communication practices to effectively curb encryption-related activities.
However, according to Lynch, Bitcoin already has some of the same anti-fragility characteristics-in the monopolies of large tech companies, emerging political institutions, capital-hungry Wall Street financial markets, and the self-reviving Greek mythological monster Hydra Witness – to deal with this.
“I think (Bitcoin) has shown some’anti-fragile’ qualities during this period of time.”
The term anti-fragility was coined by the famous author Nassim Nicholas Taleb in his book published in 2012 to express the opposite definition of vulnerability, that is, what is obtained from disorder.
In the book, Taleb wrote:
“Anti-fragility goes beyond resilience or robustness. Resilience resists shocks and stays the same; anti-fragility becomes better.”
A well-documented example is Bitcoin’s previous all-time high of $20,000, which seems to be an insurmountable figure during the severe bear market of 2018-19 – especially after the financial collapse of the pandemic reached $4,000. But a year later, the level has more than tripled, reaching $65,000.