The Crypto Treasury Craze Looks Like It’s a Bubble, Market Pros Say
What do a vape company, a European soccer investment firm, market permabull Tom Lee, and Sam Altman’s Worldcoin all have in common?
Everyone wants to know if AI is a bubble, but there might be no clearer sign of market froth than this year’s craze over crypto treasury strategies, and all of the things listed above are associated with the recent explosion of the trend. A quick recap:
- July: Bitmine Immersion announces an ethereum treasury play, with Fundstrat’s Tom Lee to join the board. The stock soars 3,000% in five days.
- July: A little-known vape company sees its shares spike 800% after it says it’s embarking on a BNB treasury play.
- September: A company that invests in soccer teams throughout Europe says…
