Prominent investor Chris Burniske suggests that the appetite for private financing in the cryptocurrency domain is currently at its peak compared to the last year.
Chris Burniske, the brain behind Placeholder Capital, relayed to his substantial 263,300-strong audience on platform X that there’s a noticeable surge in crypto projects reaching out to private financiers.
Yet, Burniske sheds light on a concerning trend: the reticence of many private financiers to venture into the crypto realm, especially in the aftermath of the downfall of significant entities like FTX, Three Arrows Capital (3AC), and Genesis.
Burniske observes, “There’s a heightened activity in the crypto private funding scene as of late. The challenge, however, is that even with a plethora of promising endeavors, the private capital available is arguably five times less than it was just a few years back.”
He anticipates a surge of private investors flocking to the crypto market once it begins to show robust signs. Burniske explains the interplay between public and private markets, noting, “There’s a natural delay in private markets reacting to the public ones. A surge or crash in the public market typically predicts similar movements in the private sector. Given that public markets react and recalibrate more promptly, a surge in their valuations can boost optimism amongst private investors.”
Despite the current market stagnation, Burniske is undeterred and is actively expanding his crypto portfolio, quipping, “While many might be pointing fingers now, I’m strategically capitalizing on the current lows.”
In past remarks, Burniske hinted at the potential for Ethereum competitor, Solana (SOL), speculating a rise to around $520 in future bullish cycles. As of now, SOL’s market price stands at $18.58.