Wall Street's Big Short: Corporate Bitcoin Treasury Craze Is Replaying SPAC-Style Bubble Risk

Planet Daily News: Wall Street's big short seller Jim Chanos has now sounded the alarm on the hot trend of corporate Bitcoin treasury, comparing it to the frenzied SPAC (Special Purpose Acquisition Company) wave of 2021 - which raised $90 billion in just three months before ending in a devastating crash. However, this time is different - public companies are purchasing Bitcoin through convertible bonds and preferred stocks without engaging in other substantive business. "What we're seeing in the Bitcoin treasury market now is exactly like the SPAC madness in 2021," Chanos stated on a podcast this week, "There are almost daily announcements of massive amounts - 'billions upon billions' every night."