TRUMP Memecoin may repeat capital conditions similar to the 2017 ICO craze, according to investor Chris Burniske.
Donald Trump’s recent launch of his own official coin, memecoin, could help usher in a new phase of free trials and capital flows in the cryptocurrency space, says investor Chris Burniske.
Burniske, a former ARK analyst and current partner at investment firm Placeholder, says in a post on social media platform Initiate projects in a similar way.
President Trump fired Trump late Friday and it quickly rose to a fully diluted valuation (FDV) of $64 billion.
Burniske He says Trump’s launch could trigger a phase similar to the 2017 initial coin offering (ICO) boom.
“It may be similar to Ethereum’s ‘The DAO’ moment in 2016, which was also a major topic of the lightning bolt, but after raising almost $150 million very quickly (catching eyes everywhere) I think it spurred the ICO craze.” (ICO) in 2017. Once people see the scale at which something can be done, it encourages them to experiment…
Unlicensed innovation is wild, messy, and sometimes severely regressive – but it represents society as a whole. I encourage everyone to see all sides of a situation and its ramifications, even if the knee-jerk reaction is negative.
Despite the potential next phase of intense speculative enthusiasm, the investor… He says He expects an eventual return to crypto “fundamentals” focusing on Bitcoin (BTC), stablecoins, and “quality” coins.
“It’s hard for reality to live up to the mental hype (the 2013-2017 era was a time when anything was optimistically possible), but we’re making great progress, and I think some of the most important things will be ‘getting back to basics’ (e.g. , BTC as a savings account, stablecoins that reduce global VoIP mobile communication costs to ~0, high-quality mortgage coins as digital real estate in new economic zones, etc.).
But yes, in “mainstreaming” there is often a dilution of ideals, a dilution of the spirit of the original movement.
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