Crypto investor doubling down on calls despite market plunge, unfazed by recent events
Chris Burniske, a partner at venture capital firm Placeholder and former analyst at ARK Invest, remains steadfast in his predictions despite the downward price action in Solana (SOL) and Cosmos (ATOM) and the regulatory scrutiny faced by crypto exchanges Coinbase and Binance.
The recent drop in altcoin markets, including a significant decline in Solana by 94% from its all-time high and Cosmos by over 81%, hasn’t shaken Burniske’s confidence. He believes that these events are merely temporary blips in the larger picture.
Burniske previously touted Solana as the next big opportunity in the crypto space, comparable to Ethereum. He dismisses the impact of the regulator’s actions on his investment thesis and sees them as inconsequential.
Looking ahead, Burniske predicts a “redemption arc” for crypto assets in the coming year, emphasizing the enduring nature of the crypto movement.
In February, Burniske described Solana as both contentious and undervalued. He explained Placeholder’s strategy of investing in ecosystems during bear markets, likening it to building an “aircraft carrier” strategy around a particular ecosystem. In the last bear market, it was Ethereum and Bitcoin, and currently, Placeholder is adopting the same strategy for Cosmos and Solana. This approach involves not only buying the core assets but also actively investing in projects within the ecosystem to gain a comprehensive understanding and support the most promising teams.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.