Dennis Lynch, Head of Counterpoint Global Morgan Stanley Investment Management, believes that bitcoin can gain in times economic disruption. He called the asset “antifragile”
“Bitcoin is like Kenny” from South Park
Dennis Lynch, an American businessman and executive at Morgan Stanley, spoke out in support of bitcoin during a conference. Lynch views it as “antifragile,” meaning it can withstand market turmoil and thrive even when other assets collapse. Lynch made an interesting analogy between the top cryptocurrency and the main character in the animated series, “South Park.”
“I like to compare bitcoin with Kenny from South Park. He dies in every episode, and then he comes back.”
Lynch acknowledged that he is a bitcoin holder because the asset represents a global trend society follows. This is what Morgan Stanley’s executive thinks when it comes to innovation.
When you live in a world with such disruption, it is normal to have some positive outcomes.
The American also sees risks as governments could ban this asset class. He said that bitcoin exposure would only be profitable for hodlers in the immediate future if this is the case.
Source: Investors.com Dennis Lynch
The Resurrection of Bitcoin
The primary cryptocurrency has been declared “dead” over 400 times, much like Kenny in “South Park”. Despite price crashes over the years, it has always survived and is now a valued asset with almost $1 trillion in market capital 12 years after its creation.
This is an example of the swinging opinion that mainstream media has. In 2018, headlines included “Bitcoin has died,” “It’s over for Bitcoin,” and “Bitcoin a bubble.” It did.
Not only did the cryptocurrency get back on its feet, but it also reached new heights a few years later. Its merits attracted the attention of giant corporations like Tesla and MicroStrategy, as well as billionaire investors such Paul Tudor Jones and Thomas Peterffy who began diversifying their portfolios using BTC.
The most important advantage of BTC is its potential to be a digital store-of-value, as 21 million coins are not likely to ever exist. It has even been given the name “digital gold” by prominent names.
Although both assets share similarities, the physical nature of the precious metal can make it difficult for investors to store it. To allocate funds in Bitcoin, however, you will need a digital wallet that removes this hurdle. Michael Saylor and Anthony Scaramucci praised cryptocurrency for being superior to gold.
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