Wall Street bears warn that the boom in corporate bitcoin treasury is repeating the risk of SPAC style foam

BlockBeats news, on July 18th, according to DL News, well-known Wall Street bear Jim Chanos has sounded the alarm about the hot phenomenon of corporate Bitcoin treasury. Chanos likened it to the fervent SPAC (Special Purpose Acquisition Companies) wave of 2021, which raised $90 billion in just three months but ended in a devastating collapse. But this time, the difference is that the listed company purchased Bitcoin by issuing convertible bonds and preferred shares, without engaging in any other substantive business. The situation we are seeing in the Bitcoin treasury market now is exactly the same as the frenzy of SPAC in 2021, "Chanos said on a podcast this week