Placeholder Partner: Most of the attention so far in 2022 has been on SOL, and investment needs to be flexible
Chris Burniske, former head of crypto at Ark Invest and now a partner at Placeholder VC, said on social media that each cycle I usually focus most of my attention on one major dark horse project. BTC from 2014 to 2017, ETH from 2018 to 2021, and SOL from 2022 to the present. Stay flexible and avoid dogmatism.
At the same time, I still hold BTC and continue to stake ETH. Why focus on SOL now? I am personally more interested in this dynamic when a project is a hard-working but differentiated dark horse. Not to mention, many people will support projects that are already established (which reduces the marginal benefit of my support), and far fewer people are willing to take risks for dark horse projects, because of factors such as career risk.
The transition from dark horse to maturity is what I do best. So, one day, I may focus most of my energy on other projects besides SOL. At the same time, cryptocurrency is still a dark horse, so I support all sincere efforts, although each cycle I will highlight the relative outperformance.