Odaily Planet Daily News - Wall Street's big short seller Jim Chanos has sounded the alarm on the heated phenomenon of corporate Bitcoin treasuries, comparing it to the frenzied SPAC (Special Purpose Acquisition Company) wave of 2021, during which $90 billion was raised in just three months, only to end in a disastrous crash. However, this time, the difference is that listed companies are purchasing Bitcoin by issuing convertible bonds and preferred shares, without engaging in any other substantive business. 'What we are seeing now in the Bitcoin treasury market is eerily similar to the madness of SPACs in 2021,' Chanos said this week on a podcast, 'There are significant announcements almost every day—'hundreds of millions' in amounts every night.'