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It's not a foregone conclusion that the Biden administration will soon have to grapple with multiple market bubbles bursting, Politico reports, but there are potential culprits all across the board.

One of the more worrisome bubbles, per Politico, comes in the form of special-purpose acquisition companies, also known as SPACs or "blank check companies." They exist with the goal of acquiring private companies, generally intriguing startups, and taking them public without having to go through the normal initial public offering process. Larry Kudlow and Wilbur Ross, both former Trump administration officials, are setting up their own SPACs, as is former NBA superstar Shaquille O'Neal.

Joseph Brusuelas, the chief economist at at the consulting firm RSM US, said the SPAC bubble, along with cyber assets and gold, feels particularly high-risk. "I mean Shaq has a SPAC," he told Politico. "What could go wrong?"

Politico also lists the "huge surges" in cryptocurrencies as something that has market watchers concerned. Bitcoin is probably the most famous example in this category, and it's up 420 percent over the last year, but other cryptocurrencies like Dogecoin, which Politico notes was "created as a joke based on an internet meme," are also skyrocketing. And the real estate market could be vulnerable, too; data from Realtor.com showed median home listings are up 14.5 percent over the last year, marking the 28th straight week of double-digit price gains.

A recent survey of institutional investors carried about by the investment management firm Natixis seems to back up those fears, since 41 percent expect a market correction in real estate prices, and 39 percent are anticipating corrections for cryptocurrencies. Read more at Politico.