On the show today we welcome Chris Burniske of Placeholder, a venture capital firm that invests in cryptoassets. Chris is a friend and former colleague of ours at ARK Invest and he will be discussing all the latest developments in the crypto space as well filling us in on Placeholder’s projects and founding ideas. Yassine Elmandjra (ARK analyst) is also here to help conduct the interview and further our probing of Chris’ expertise. We aim to provide a review of the past year and get into the idea of defining a new economy before breaking down some of the key areas of interest relating to Bitcoin. Chris unpacks store of value and medium of exchange, what the future may look like, volatility and much more on the vanguard of the crypto world. The discussion turns to some other prominent cryptocurrencies before looking at regulation and global approaches to the growth of the cryptoassets. For all this and much more be sure to tune in! (Note: This episode was recorded 11/07/2018)
Key Points From This Episode:
- A recap of the last year for Chris and his venture capital firm Placeholder
- Placeholder’s underlying and primary thesis.
- Looking at Bitcoin since its inception
- Weighing Bitcoin’s store of value versus it being a medium of exchange.
- How to measure Bitcoin’s future success as a currency.
- The long-term arc of Bitcoin’s volatility.
- Regulation and “do no harm” sentiments in the crypto space.
- The U.S. government’s role and involvement in the crypto space.
- Looking at international attitudes towards crypto.
- And much more!
“We decided to raise a venture fund while most everyone was raising hedge funds at the time because for us a venture fund aligns the interests of the investor directly with the entrepreneur.” — @cburniske [0:02:11.4]
“What is invariant is our close working relationship with every team.” — @cburniske [0:03:57.8]
“I would say to distill it down, crypto assets are a new way to organize and incentivize human activity of all kinds.” — @cburniske [0:07:49.8]
ARK's statements are not an endorsement of any company or a recommendation to buy, sell or hold any security. For a list of all purchases and sales made by ARK for client accounts during the past year that could be considered by the SEC as recommendations, click here. It should not be assumed that recommendations made in the future will be profitable or will equal the performance of the securities in this list. For full disclosures, click here.