Investor Chris Burniske says that Donald Trump\u2019s recent launch of his official memecoin could help usher in a new phase of free experimentation and capital flows in the crypto space.<\/p>\n
Burniske, a former ARK analyst and current partner at venture firm Placeholder, says in a post on the social media platform X that he doesn\u2019t plan on buying TRUMP<\/a>, but notes that its launch is \u201ccatching eyeballs everywhere\u201d and potentially encouraging others to embark on projects in a similar manner.<\/p>\n President Trump launched<\/a> TRUMP late on Friday and it quickly skyrocketed to a $64 billion fully diluted valuation (FDV).<\/p>\n Burniske says<\/a> the launch of TRUMP could trigger a phase similar to the initial coin offering (ICO) boom of 2017.<\/span><\/p>\n \u201cIt could be similar to Ethereum\u2019s \u2018The DAO\u2019 moment of 2016, which was also a major lightning rod topic, but after raising ~$150 million very quickly (catching eyeballs everywhere) I believe it to have catalyzed the ICO craze of 2017. Once people see the scale at which something can be done, it encourages them to experiment\u2026 <\/em><\/p>\n Permissionless innovation is wild and messy, and sometimes supremely cringe \u2013 but it is representative of 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.\u201d<\/em><\/p>\n Despite a potential incoming phase of extreme speculative fervor, the investor says<\/a> that he\u2019s expecting an eventual return to the \u201cbasics\u201d of crypto focused on Bitcoin (BTC<\/a>), stablecoins and \u201cquality\u201d staking coins.<\/p>\n \u201cIt\u2019s hard for reality to live up to the hype of the mind (the 2013 \u2013 2017 era was a time when everything was optimistically possible), but we\u2019re making major progress, and I think some of the most important things will be \u2018back to the basics\u2019 (eg, BTC as a savings account, stablecoins dropping global mobile communications over Internet Protocol costs to ~0, quality staking coins as digital real estate in new economic zones, etc). <\/em><\/p>\n But yes, in the \u2018mainstreaming\u2019 there is often dilution of the ideals, dilution of the soul of the original movement.\u201d<\/em><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Featured Image: Shutterstock\/sci-fion\/Sensvector<\/span><\/em><\/p>\n<\/p><\/div>\n
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<\/center><\/p>\nDisclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n