Hey there, crypto enthusiasts! If you’ve been scrolling through X lately, you might’ve stumbled upon a fascinating thread by POM (@WeOneOfficial) that’s got everyone talking. This post dives into the wild world of Bitcoin treasury companies, drawing a striking parallel to the chaotic 2017 ICO mania. But here’s the kicker: it also hints at why meme coins are making a comeback as a quirky rebellion against these financial shenanigans. Let’s break it down!

The 2017 ICO Mania Flashback

Remember the days when anyone with a white paper and a dream could launch an Initial Coin Offering (ICO) and rake in millions? Back in 2017, the crypto space was buzzing with excitement—and a fair share of scams. As explained in a great piece on Zerocap, ICOs let projects raise funds by selling tokens, often with little to no product or business plan. The hype peaked between mid-2017 and early 2018, but 95% of those projects eventually flopped, leaving investors with massive losses.

Now, POM’s post suggests we’re seeing a similar vibe with Bitcoin treasury companies. These are firms that hold Bitcoin as part of their cash reserves, often using strategies like private placements to raise funds. Sound familiar? It’s like the ICO frenzy, but with a corporate twist.

Enter PIPE Valuations: The New Kid on the Block

So, what’s fueling this comparison? The post points to something called PIPE—Private Investment in Public Equity. This is when private investors pump money into a public company by buying shares, often at a discount. According to Laura Shin’s thread, some crypto treasury companies are inflating their share supply massively through PIPE deals. For example, Sharplink saw its shares jump by a whopping 8,893%! When these private investors sell off, it can crash the price, leaving regular investors (or “public plebs,” as POM puts it) in the dust.

This tactic echoes the low-float, high-fully-diluted-valuation (FDV) games of the ICO era, where early investors cashed out while latecomers got burned. It’s a strategy that prioritizes private gains over public stability.

Meme Coins: The People’s Revolt?

Here’s where it gets interesting. POM argues that meme coins—like Dogecoin or Shiba Inu—are a reaction to this. Unlike Bitcoin treasury companies with their complex financial maneuvers, meme coins are simple, humorous tokens with no real utility beyond community hype. As Investopedia notes, they thrive on belief and speculation, often created in minutes with minimal cost. They’re the “people’s revenge” against the high-stakes games of traditional crypto finance.

Think of it as a grassroots movement. Tired of getting “dumped on” by ungodly PIPE valuations? Grab a meme coin and join the fun! It’s chaotic, sure, but it’s also a way for retail investors to reclaim some control.

What This Means for Crypto Today

As of 04:04 AM JST on July 10, 2025, this debate is heating up. Companies like MicroStrategy and Bit Digital are doubling down on Bitcoin treasuries, while meme coins continue to surge on platforms like Meme Insider. The question is: are we heading for another bubble, or will this balance of corporate strategies and community-driven tokens create a new norm?

For blockchain practitioners, this is a goldmine of insight. Understanding PIPEs and ICO parallels can help you spot red flags in investment opportunities. Meanwhile, keeping an eye on meme coin trends might reveal the next big thing—or at least a good laugh!

Final Thoughts

POM’s post is a wake-up call wrapped in a meme coin joke. It reminds us that the crypto world is a wild mix of innovation and speculation. Whether you’re hodling Bitcoin, riding the meme coin wave, or just watching from the sidelines, staying informed is key. What do you think—will treasury companies dominate, or will meme coins steal the show? Drop your thoughts in the comments, and let’s keep the conversation going!