Ex-ARK Invest analyst warns against overhyping $10t crypto market cap targets

Placeholder partner Chris Burniske recommends a cautious approach and balances optimism with realism to avoid overexaggerating goals this cycle.

Chris Burniske, former analyst at ARK Invest and current partner at Placeholder, a venture capital firm that invests in decentralized networks, warned crypto investors against overhyping market targets as the bullish sentiment grows.

People won’t like me saying this, but if $10 trillion is the target for round # then we’ll probably fall short of that number this cycle.

This was a good rallying cry from the capitulation lows and will prove directionally correct for this cycle, but will be overcome over time. However, when we enter an entrance… pic.twitter.com/r1y8HE0DQf

— Chris Burniske (@cburniske) December 5, 2024

In a post published on December 6 on

“People won’t like me saying this, but if the target for round # is $10 trillion, then we’ll probably fall short of that number this cycle,” he wrote, adding: “This was a good rallying cry from the capitulation lows, and it’s going to go higher.” The directional direction of this cycle is right prove that it is, but it is overcome over time.

Burniske cited the 2021 bull market, where $100,000 and $10,000 calls for Bitcoin and Ethereum (ETH) were common, as an example of inflated expectations. Burniske noted that at the time the market was “around ~$70k and ~$5k respectively, BTC has only now reached that target, that’s a lesson.”

As valuations rise, the Placeholder partner recommended a profit-taking approach, noting that investors entering the market at a price below $1 trillion with a target of $10 trillion would be wise to take profits in tranches between $3 trillion and $10 trillion. The official emphasized that “no one loses money” by making a profit, adding that any gain in insight during the process would mean psychological discomfort rather than actual losses.

“No one has ever lost money making a profit, the gains when you harvest on the way up are just psychological pain. Save some money forever, of course, but also make crazy profits and live your life.

Chris Burniske

The Placeholder partner also urged investors to balance their financial goals with their life priorities. “Time is even more valuable than BTC dollars,” he wrote, emphasizing the importance of enjoying the returns rather than striving for perfection.

Burniske’s advice comes as Bitcoin finally broke through $100,000 and hit an all-time high of nearly $104,000. However, BTC price has since dropped to $95,000. As of the moment of publication, Bitcoin is trading at $98,067 and the total crypto market capitalization is at $1.94 trillion.