Investor Chris Burniske says Donald Trump’s recent launch of his official memecoin could help usher in a new phase of free experimentation and capital flows in the crypto space.
Burniske, a former ARK analyst and current partner at venture capital firm Placeholder, said in a post on the social media platform to do that too. starting projects in a similar way.
President Trump launched TRUMP late Friday and it quickly skyrocketed to a fully diluted valuation of $64 billion (FDV).
Burniske say the launch of TRUMP could trigger a phase similar to the initial coin offering (ICO) boom of 2017.
“It could be similar to Ethereum’s 2016 ‘The DAO’ moment, which was also a major lightning rod topic, but after raising ~$150 million very quickly (noticeable everywhere), I believe it’s the catalyzed the ICO craze of 2017. people see the scale at which something can be done, it encourages them to experiment…
Permissionless innovation is wild and messy, and sometimes utterly cringe-inducing – but it is representative of society as a whole. I encourage everyone to see all sides of a situation and its consequences, even if the knee-jerk reaction is negative.”
Despite a potential incoming phase of extreme speculative fervor, the investor remains say that he expects an eventual return to the ‘basics’ of crypto, focusing on Bitcoin (BTC), stablecoins and ‘quality’ staking coins.
“It is difficult for reality to live up to the hype of the mind (the 2013-2017 era was a time when everything was optimistically possible), but we are making great progress, and I think some of the most important things will be” back to basics’ (e.g. BTC as a savings account, stablecoins that reduce the cost of global mobile communications via the Internet Protocol to ~0, quality deployment of coins as digital real estate in new economic zones, etc.).
But yes, with ‘mainstreaming’ there is often a dilution of the ideals, a dilution of the soul of the original movement.”
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