One veteran investor believes that crypto projects are now more open to private funding than at any time in the past year.
Chris Burniske, the founder of Placeholder Capital, tells his 263,300 followers on the social media platform seeking money from private investors.
However, Burniske says many retail investors are hesitant to put their capital to work in the crypto space following the collapse of major digital asset companies such as FTX, Three Arrows Capital (3AC) and Genesis.
“The busiest period in recent history for private crypto finance is happening right now, in my opinion… The only problem is that, while there are many promising projects, private capital is five times (?) scarcer than it was a few years ago.”
According to Burniske, private investors will probably do so enter the space will disappear en masse once the crypto markets start showing signs of strength.
“Private always lags behind public, so the public market boom leads to a private financing boom – the public market crash leads to a private market crash. The public market is brought to market much faster than private markets, and therefore price adjustments also occur much faster in the public market…
If public market valuations are juicy, that obviously makes private investors more optimistic.”
Although the crypto markets are in the midst of a price slump, Burniske says say that he is actively scooping up coins.
“While you’re busy tagging me on shots to remind me of later, I’m busy collecting bottom ranges.”
Previously, Burniske said it is within the realm of possibility that Ethereum (ETH) rival Solana (SOL) could rise to $520 in the next bull market.
At the time of writing, SOL is trading at $18.58.
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Featured image: Shutterstock/Jitu Store/Natalia Siiatovskaia