Money or Debt Newsletter

Bitcoin as Cosmological Dark Energy

Given the power law trajectory, its dominance soon after mid-century seems inevitable

Sep 12 • 

Stephen Perrenod

7

2

Bitcoin and Supermassive Black Holes

One Bitcoin year like 830 Million cosmic years?

Sep 5 • 

Stephen Perrenod

6

2

August 2025

Bitcoin Bubbles and Crashes collectively behave as Power Law

True for minor bubbles as well as the major ones

Aug 18 • 

Stephen Perrenod

11

1

Bitcoin’s Velocity Power Law

Derived not from Price but from Velocity

Aug 4 • 

Stephen Perrenod

9

3

July 2025

Bitcoin Bubbles and Anti-Bubbles

Are they Log Periodic?

Jul 14 • 

Stephen Perrenod

13

2

June 2025

Approximate Entropy of Bitcoin

Indicates strong trend predictability and also a maturing market

Jun 28 • 

Stephen Perrenod

8

Does Difficulty Lead Bitcoin Price?

For over a decade, but not of late

Jun 11 • 

Stephen Perrenod

7

2

May 2025

Bitcoin’s Wealth Distribution

Not really a power law of wealth, yet

May 20 • 

Stephen Perrenod

3

2

No Bubbles, No Power Law?

The bubbles helped lock it in, but they are fading with time

May 5 • 

Stephen Perrenod

11

2

April 2025

Global Liquidity as a Driver of Bitcoin

Bitcoin is a power law of liquidity; Liquidity growth kicks off bubbles

Apr 10 • 

Stephen Perrenod

12

3

Bitcoin is the Best Asset Class

Kelly Criterion suggests a 75% portfolio allocation

Apr 1 • 

Stephen Perrenod

10

4

March 2025

Bitcoin for every Moment: part 2

In the prior article of this two part series we examined portfolio optimization when Bitcoin is included.

Mar 22 • 

Stephen Perrenod

4