{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Honest Money Show","title":"Stephan Livera on The Power Law & Bitcoin's Path to Millions","html":"","width":"100%","height":180,"duration":3808,"description":"Where is the Bitcoin price really heading, and does the power law still point to Bitcoin reaching millions? \nStephan Livera joins Honest Money to explain his outlook on Bitcoin's price, why adoption is slower than he once believed, and what the power law model projects for the decades ahead.\nStephan explains how his thinking on Bitcoin adoption has shifted over eight years, why he now meets people wherever they enter the funnel, from ETFs to self-custody, and what the power law suggests about Bitcoin reaching roughly a million dollars in the early 2030s and around ten million by 2045. Along the way he reflects on the long game of Bitcoin, surviving your first bear market, community infighting, and what the Coldcard hack really means for self-custody.\n🎙️ EPISODE SUMMARY\nStephan and Anja discuss Bitcoin's price trajectory, the power law, bear markets, and self-custody.\nThe conversation moves from eight years of podcasting, through his long-term conviction on Bitcoin as money, to how he now sees adoption as a broad funnel rather than an all-or-nothing choice. He explains why he likes the power law as a grounding model over the debunked stock-to-flow, and what it projects for Bitcoin's price into the 2030s and 2040s.\nThe episode also covers why the first bear market is the hardest and why dollar-cost averaging through it matters most, the exhausting community infighting around BIP-110 and spam, the quantum-security consortium forming around Bitcoin, and why, after the Coldcard hack, Stephan believes multi-vendor multisig is the real long-term answer to self-custody.\n🔑 KEY TAKEAWAYS\nThe power law projects Bitcoin near a million dollars in the early 2030s and ten million by 2045\nStephan favours the power law as a grounded model over the debunked stock-to-flow\nBitcoin is not get rich quick, it is a five to ten year, multi-decade process\nThe first bear market is the hardest, and DCA through it matters most\nHe has evolved on \"Bitcoin only\" while keeping his long-term...","thumbnail_url":"https://img.transistorcdn.com/p7N5smzh8fVmXaDnKiC1KW7OIbHvwF_cFrc7BMU_gZQ/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS82Zjc0/MzkzMjU0NTBlMjMz/NTk4MTBiOWQyZDk0/YjUwNi5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}