Investor Chris Burniske says Donald Trump’s recent launch of his official memecoin could help open a new phase of free experimentation and capital flow in the cryptocurrency space.
Burniske, a former ARK analyst and current partner at venture firm Placeholder, said in a post on social media platform They say there is. You start your project in a similar way.
President Trump launched TRUMP late Friday and its fully diluted value (FDV) soared to $64 billion.
Burniske said TRUMP’s launch could trigger a similar phase to the 2017 ICO boom.
“It may also be similar to Ethereum’s ‘The DAO’ moment in 2016, which was a major lightning rod topic, but after raising ~$150 million very quickly (catching eyeballs everywhere), I think this is the 2017 ICO craze. I believe it triggered it. People see the scale at which something can be done and are encouraged to experiment.
Unauthorized innovation is rough, messy, and sometimes extremely cringe-inducing, but it is representative of society as a whole. I encourage everyone to look at all sides of a situation and its consequences, even if the knee jerk reaction is negative.”
Investors ultimately expect a return to the “fundamentals” of cryptocurrencies, with a focus on Bitcoin (BTC), stablecoins, and “quality” staking coins, despite a potential phase of extreme speculative enthusiasm. They say there is.
“Although reality rarely lives up to the mental hype (2013-2017 was a time when anything was optimistically possible), we are making great progress and some of the most important things are ‘back to basics’, e.g. BTC as a savings account, a stablecoin that reduces the cost of global mobile communications via the Internet Protocol to ~0, a high-quality staking coin as digital real estate in the new economic zone, etc.).
But yes. In ‘mainstreaming’ the ideals are often diluted and the soul of the original movement diluted.”
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