The Jack Mallers Show From Software to Hard Asset: Bitcoin in a New Liquidity Regime
62 snips
Feb 10, 2026 Discussion of Bitcoin shifting from software-like trading to hard-asset behavior. Evidence tying Bitcoin moves to software sector correlations. Macro forces relocating liquidity into capital-heavy industries like energy and minerals. AI's role in changing software economics and triggering selloffs. Global monetary shifts, China reducing Treasuries, and implications for liquidity and money printing.
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Personal Use Case: Paychecks To Bitcoin
- Jack describes personally monetizing and saving in Bitcoin, having paychecks swept into it.
- He contrasts his hard-money use with broader market holders who treated it like software.
Supply-In-Profit Points To Near-Term Bottom
- Metrics like percent supply in profit show historical bottoms align with low percentages in profit.
- Current data suggests we're closer to the tail end of the bear market than the beginning.
Capitulation Signals Deep Value
- The 2025–2026 cohorts have been realizing large daily losses, indicating capitulation.
- Capitulation creates deep-value opportunities and strengthens the long-term holder base.
