What Bitcoin Did Bitcoin Power Law: The End of Exponential Growth | Matthew Mezinskis
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Nov 10, 2025 
Matthew Mezinskis, a macroeconomic researcher and host of Crypto Voices, dives into the unique growth dynamics of Bitcoin, highlighting its power-law increase unlike traditional finance’s exponential patterns. He explores how this sustainable growth challenges credit systems, predicting a potential shift in the financial landscape. The discussion also covers Bitcoin's role as a base money, its ambitious milestone to surpass U.S. cash circulation, and the implications of rising interest in Bitcoin amid traditional markets and AI trends, painting an insightful picture of its future.
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Networks Grow Proportionally Not Exponentially
- Power relationships produce proportional, sustainable growth seen in networks and organisms.
- Bitcoin's price follows this power curve rather than the exponential growth of TradFi.
Credit Drives Exponential TradFi Growth
- TradFi assets grow exponentially due to credit and compound interest.
- Bitcoin's growth isn't exponential because it lacks the credit-driven compounding structure of banking.
Power Curve Means Declining Annual Returns
- A power curve's annual growth rate declines as the asset scales, so percent returns shrink over time.
- Bitcoin's doubling interval lengthens as adoption and market cap increase.
