The AI Bubble Looks Exactly Like 2000 & The Buffett Indicator Just Hit 230%

**Dante Cook** (0:00)
When I buy things, I try really hard never to sell them.

**Jim Cramer** (0:03)
And so, there's nothing you're going to do to convince me to sell my Bitcoin.

**Dante Cook** (0:06)
There's nothing you're going to do to convince me to sell my Bitcoin. Not a price target, not a timeline, not a recession. But this is coming from a Bitcoiner. Right now, millions of investors are doing the exact opposite. They're chasing, gambling, borrowing money, buying options. Paying prices that only makes sense if everything goes perfectly. This is why I think we're heading for the.com bubble 2.0, and why SpaceX is the poster chart. Have you seen this chart? This is the S&P 500 from today, being overlaid on the S&P 500 from the.com bubble. Look familiar? In 2000, investors were convinced that the Internet had changed the rules. They were right about the Internet, but the NASDAQ still collapsed 80%.
Today, I'm going to show you why we are in the midst of a.com bubble 2.0, why SpaceX is the loudest warning yet, why AI can completely change the world and destroy your portfolio at the same time, and most importantly, how you can make sure that this bubble doesn't force you to sell the asset that you never plan to ever sell, your Bitcoin. It's not just me. Two of the greatest investors of all time are also heading for the exits. This is Dante Coco, Bitcoin Simply.
Let's go.
All right, for as much crap as I've given SpaceX for being the poster child for the next.com bubble, they are hodlers. SpaceX owns 18,712 Bitcoin, and Tesla reportedly owns over 11,000 Bitcoin. Combined, that would be over 30,000 Bitcoin, making them the fifth largest Bitcoin treasury company combined. But SpaceX can be smart enough to hold Bitcoin and still sell you their bags. People buying SpaceX right now are crazy. SpaceX trades at 94 times sales. That's four times as much as the next most expensive company on earth, 27 times more than Amazon. Every other trillion dollar tech company right now is earning crazy profits. The market is asking you to pay the highest price for a company that is investing into future possibilities. The mark of a bubble is when investors act like the normal rules of valuation and cash flow and actually just good business practices don't apply anymore. And one of the greatest marks of a bubble might be when Jim Cramer enters the chat. Listen to him talk about SpaceX when asked about the valuation.

**Jim Cramer** (2:13)
The Chinese targeted robots and they targeted cars. And when the PLA and the Chinese government get together, they can really wreck a lot of industries as many working people in our country know.
I think that Elon Musk will not tolerate that. And so therefore, I think that we're going to own space. This is a person who uniquely understands how important owning space is.
And I think that I want to be with him. I don't care. And by the way, he has things in his head right now that are probably far more valuable than what we see and just hasn't articulated. That's the same thing that Jensen Wong, another genius, did. He had a lot of things in his head that hadn't been fully articulated, that have been all coming true. I think there's more to this company than what's in the prospectus. And I think that, I don't know, personally, I'm proud. Proud to be an American today. I know to be reflective is sound almost silly because we're talking about pieces of paper, but I think this one is more than a piece of paper. I think this reminds me very much of when we landed on the moon and I realized that we had beaten the Russians.

**Dante Cook** (3:16)
Jim Cramer just said that Elon will single handedly take down the Chinese government. And SpaceX going public is like us defeating the Russians or landing on the moon. But this is also Jim Cramer.

**Jim Cramer** (3:27)
Okay, Peter writes, should I be worried about Bear Stearns in terms of liquidity and get my money out of there? No, no, no. Bear Stearns is fine. Do not take your money. Yeah, this is really good. There's one takeaway other than a plus 400, so Bear Stearns is not in trouble. I mean, if anything, they're more likely to be taken over.
Don't move your money from Bear. That's just being silly.

**Dante Cook** (3:47)
And six days later.

**SPEAKER_3** (3:49)
Okay, just so you get a sense of what's causing the agony by this point, I know you've been talking about it. It's financials led by Bear Stearns after what essentially is a bailout from the Fed. Bear Stearns shares down 90 percent this morning and it's not just Bear. Pretty much every single bank is plunging in early trade this morning.