A veteran investor believes that crypto projects are now more open to private financing than in any period over the past year.
Chris Burniske, the founder of Placeholder Capital, tells his 263,300 followers on the social media platform X that crypto projects are actively seeking funds from private investors.
However, Burniske says that a lot of private investors are hesitant to put their capital to work in the crypto space following the collapse of major digital asset firms such as FTX, Three Arrows Capital (3AC) and Genesis.
“Busiest period in recent memory for crypto private financings currently occurring, in my opinion… The only issue is while there are many promising projects, private capital is 5x (?) scarcer than a couple of years ago.”
According to Burniske, private investors will likely enter the space in droves once the crypto markets start to flash signs of strength.
“Private always lags public, so public market boom leads to private funding boom – public market crash leads to private market crash. The public market is marked-to-market much more rapidly than the private markets, and so price adjustments also happen much more rapidly in the public market…
If public market valuations are juicy, that naturally makes private market investors more optimistic.”
Even though the crypto markets are in the midst of price doldrums, Burniske says that he’s actively scooping up coins.
“While you’re busy tagging me on takes to remind me about later, I’m busy accumulating bottom ranges.”
Previously, Burniske said that it is within the realm of possibility for Ethereum (ETH) rival Solana (SOL) to rally to as high as $520 in the next bull market.
At time of writing, SOL is trading for $18.58.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: 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 loses 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.
Featured Image: Shutterstock/Jitu Store/Natalia Siiatovskaia
