Bitcoin Treasury Firms Are This Cycle's Bubble, Experts Warn

  • A growing chorus of Bitcoin commentators is raising the alarm over the recent boom in publicly traded companies adopting Bitcoin-centric treasury strategies. The debate ignited this week after pseudonymous investor Stack Hodler (@stackhodler) described the trend as a speculative mania disguised in corporate form, writing on X that “Bitcoin treasury companies are this cycle's shitcoins.