

The Bitcoin Power Curve (also called the Bitcoin Power Law) is a mathematical model that suggests Bitcoin’s price and adoption aren't random or purely speculative, but rather follow a predictable "natural" growth curve. The theory argues that Bitcoin behaves more like a biological organism or a growing city than a traditional financial asset.
Unlike linear models, the Bitcoin Power Curve holds true across vastly different scales—whether Bitcoin is $1, $1,000, or $100,000. It suggests the underlying "physics" of the network remains the same as it grows.
Many models (like Stock-to-Flow) predict infinite exponential growth. The Bitcoin Power Curve is more "honest" about the future; it accounts for the fact that as a system gets larger, it takes more energy and time to double in size, leading to naturally diminishing returns.
It ties Bitcoin’s value to Metcalfe’s Law (the value of a network is the square of its users). It views Bitcoin as an evolving "digital city" where infrastructure, security (hash rate), and users grow in a self-reinforcing feedback loop.
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