HeyJaredThe Mustard Seed
A quarterly letter on bitcoin, technology, and civilization in 10 years with contrarian market insights.
- Indexed issues, last 90 days
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- Aug 28, 2026
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Q3 2036 — The Fracture: Breaking Bitcoin's Power Law (opens the original)
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I. Introduction: What Comes After the Power Law?Last quarter, with Bitcoin down more than 50% from its high, I argued that bear markets are a feature, not a bug of Bitcoin’s early adoption process. And at the start of this year, I laid out my case for $11 million Bitcoin by 2036. I still think that case remains possible. However, the more interesting question is what the path f
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