Bitcoin dropped 53% while the S&P ripped and CNBC threw confetti about the Goldilocks economy.
Rustin's read: Bitcoin wasn't crashing. Bitcoin was reading a memo nobody else had yet.
The CAPE ratio is sitting at 42.32. The dot-com peak was 44. SpaceX IPO opens Friday at a $1.75T valuation on a company that isn't profitable, with a lockup structure that lets early investors sell in 5 to 10 weeks instead of six months, and a NASDAQ rule change that forces your index fund to buy in automatically.
OpenAI filed a confidential S1. Anthropic filed nine days before that. Three of the biggest valuations in history, stacked up in two weeks, in sequence.
The Ponzi always needs one more face. This one just opened for trading.