Bitcoin as Cheap Fame? Companies Turning into Crypto Copycats
I recently read an article that I found quite interesting. Here's a brief summary.
Carlota Perez once described the manic stages of investment cycles — when everyone blindly mimics “successful” strategies until it all explodes.
And it feels like… we’re exactly there:
- Companies go public,
- Raise cash,
- Buy Bitcoin,
- Stocks skyrocket,
- Repeat.
It started with Michael Saylor’s MicroStrategy — now just "Strategy" — holding 597,625 BTC.
Then came the imitators: from Metaplanet to Spain’s Vanadi Coffee SA, a company losing money on coffee but somehow finding the funds to buy 10,000 BTC.
The paradox? These companies don’t produce, sell, or innovate. They just swap cash for hype. Calling it “asset diversification” is like putting perfume on speculation.
It’s starting to look like a new form of ICO or NFT mania — only now with ticker symbols. Same tricks, just listed. For example, BitMine Immersion Technologies soared +3000% after announcing they’re now “in Ethereum.”
What’s next? Dogecoin on an insurance firm’s balance sheet?
But when the trend turns, weak and unprofitable companies will be forced to dump their crypto — and that won’t be fun.
Are we really building the future of finance? Or just cycling through another round of “get rich on nothing” — no product, no idea, no foundation?
The canal boom left behind canals. The dot-com era gave us Google and Amazon. What will the Bitcoin treasuries leave behind?
To be honest, there's a lot to think about. Right now, we’re in the middle of an active phase where companies are accumulating cryptocurrency. Both strong and struggling firms are buying in — the latter often to attract attention or improve their financial standing.
But what happens to the crypto market when these weaker companies start offloading their crypto holdings — once the mere presence of crypto on their balance sheets no longer boosts their stock prices? What if some of them start going bankrupt?
