Hey money minds ☕
Today’s menu: crypto dreams vs. math, SpaceX eats its sibling, India rolls out a tax red carpet, and Disney finally picks a new mouse-in-charge. Let’s crack today’s nut. 👇
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🪙 Crypto’s Golden Era Starts to Rust
When diamond hands meet paper losses
Bitcoin’s post-peak hangover is here — and it’s not subtle.
After smashing records in Oct 2025, Bitcoin has now lost about one-third of its value, dragging retail investors into a group therapy session. The “Trump + ETFs = moon” thesis? Turns out… markets still care about fundamentals.
📉 The vibes:
$227M pulled from spot Bitcoin ETFs by Jan. 28
Bitcoin: ~$76K, down nearly 40% from its peak
Ethereum: ~$2.3K, down 53% from last summer
Strategy ($MSTR): -61% since BTC’s high
BitMine ($BMNR): -57%
Investors are fleeing risk as:
✔️ AI steals capital
✔️ Job market softens
✔️ Geopolitical fear rises
One trader summed it up best:
“The vibe right now is stay alive.”
🧺 The Hoarding Model Hits a Wall
When stacking coins stops stacking gains
Crypto’s favorite play — issuing stock and debt to hoard tokens — is cracking.
Strategy’s premium to its bitcoin holdings (mNAV):
📉 Fell from 2+ to barely above 1
If it dips below 1, Strategy may be forced to sell bitcoin to buy back shares — the one thing Michael Saylor swore would never happen.
🧾 The damage:
Strategy booked $17.44B unrealized loss (Q4 2025)
Still holds 700K+ bitcoins
Bought 855 BTC last week at ~$88K
BitMine holds $16.4B in ETH, still adding despite losses
Two Prime CEO Alex Blume says this model is now “largely dead” for anyone without real operating businesses.
🟢 Bottom Line:
Crypto accumulation only works when prices rise and investors overpay. Right now? Neither is happening.
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🗞️ Other News — Rapid Fire Round
Because chaos never sleeps
🚀 Musk merges SpaceX and xAI
SpaceX will acquire xAI (which owns X/Twitter), creating a combined empire worth ~$1.25T. Tesla? Down ~1% on the news.
🇮🇳 India drops a 21-year tax holiday for data centers
Foreign tech firms using Indian data centers get zero tax until 2047. That’s not a policy — that’s a love letter.
🛂 TSA adds a “no Real ID” tax
Travelers without Real ID or passport now pay $45 for TSA ConfirmID and wait 10–30 extra minutes.
🏭 US factories finally wake up
Manufacturing PMI hit 52.6, highest in 12 months as firms restock and prep for tariffs.
⚡ Hubbell rides the AI power boom
Revenue up 11.9% as data centers buy wiring and lighting like it’s Black Friday.
📺 Fubo trims losses after Disney deal
Now at 6.2M subscribers post Hulu + Live TV merger, revenue up 40%.
🐭 Disney picks a new CEO (not named Bob)
Josh D’Amaro takes over March 18. Theme parks now Disney’s biggest profit engine at $10B last quarter.
📵 Spain bans social media for teens
Under-16s locked out next week. France and others watching closely.
💡What else are we reading and seeing?
Data centers in space makes no sense
VC-Backed Startups are Low Status
Microsoft's Pivotal AI Product Is Running Into Big Problems
In Surprising Move, HP CEO Steps Down to Lead PayPal
Anthropic Performance Team Take-Home for Dummies
AV Rideshare Fleet Sizing: Why the Optimum is Just Shy of Peak
1.6 million AI bots are on Moltbook — here's how to join as a human
Sam Altman Reveals Why OpenAI Is Poised To Make The Biggest Business Bets Ever
🧠 The Big Picture
Crypto’s crash isn’t just about price — it’s about psychology.
The dream was politics + ETFs = infinite upside.
Reality says: supply, demand, and risk still win.
Meanwhile:
✔️ AI is sucking up capital
✔️ Governments are reshaping tech
✔️ Media and space are merging
✔️ Teens are getting unplugged
Markets aren’t dying — they’re re-pricing the future.
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Thanks for reading Cash Nut 🥜
If today’s issue saved you from emotional investing, forward it to a friend who still thinks “hodl” is a retirement plan.
See you in the next one 💛
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