In a new interview with Bankless, former ARK Invest executive and current partner at venture capital firm Placeholder Chris Burniske says that he’s keeping an eye on how changes in interest rates could potentially affect the timing of the next crypto bull market. . .
“When I look at – and this is where you would put me more in the Cathie Wood camp – I look at the rate of change and the rate of innovation and the massive amount of GDP growth occurring within crypto, it’s insane. It’s like triple digit CAGRs (compound annual growth rate) every year.
Those guys, Marks and whoever, they’re not paying attention to that. Druckenmiller is favorable to BTC but they’re not like in the weeds being like ‘oh my god look at how much this is growing’ and if they could believe that an economy was growing at triple digit CAGRs they’d be like ‘well that could probably overwhelm in a stricter money environment.'”
The venture capitalist says that while he’s not certain on timelines, the general scenario of a crypto bull market is likely already inevitable. He says he already has price targets set, and that he expects multiple crypto assets to reach trillion-dollar valuations.
“I have a plan. I have price targets which are meaningful to me and Placeholder. If we hit those price targets in 2025, I’ll take action. If we hit them in 2027 because things are more delayed, then it’ll just take me more time, and I’m not in a rush. I believe that we will have multiple crypto networks in the trillion-plus range. And so, that’s where my head is.
No one can say exactly how long it’ll take, the starting case would be okay, if we just repeat the past cycles, 2024 is a big year, next year is like a rising expansion. 2025 is the crazy year. If we’re starting to see the patterns, then it’s like okay guys, pay attention…”