I explained 6 years ago why Plan B’s Stock-to-Flow Bitcoin model was doomed and would fail.

Few believed me.

Most insulted me.

Today, I can confidently declare that I was right and Plan B was wrong.

Also, watch my May 2020 video that started all the controversy and read the detailed article about why Plan B’s stock-to-flow model was doomed!

In mid-2026, with the price of Bitcoin languishing around $65,000, below the lowest stock-to-flow band, we can officially declare that Plan B’s stock-to-flow model is dead.

I waited until Bitcoin was consistently below the outer bands before declaring “victory” in my debate with Plan B. It’s a Pyrrhic victory because I was hoping all along that he would be right and I would be wrong, since I have stacked bitcoin.

Unfortunately, time proved me right.

Ultimately, Plan B’s model was only good for one Bitcoin cycle.

Given how wide a price band the model has, it’s unsurprising that it lasted for four years.

However, it couldn’t keep up with the aggressive, uber-optimistic price prediction.

What do you think?

Put your thoughts in the comments.

Connect

Send me an anonymous voicemail at SpeakPipe.com/FTapon

You can post comments, ask questions, and sign up for my Substack newsletter.

If you like this podcast, subscribe and share!

On social media, my username is always FTapon. Connect with me on:

* YouTube

* Facebook

* Instagram

* X

* TikTok

* LinkedIn

Sponsors

1. My Patrons sponsored this show! Claim your monthly reward by becoming a patron for as little as $2/month at https://Patreon.com/FTapon

2. For the best travel credit card, get one of the Chase Sapphire cards and get 75-100k bonus miles!

3. Get $5 when you sign up for Roamless, my favorite global eSIM with its unlimited hotspot & data that never expires! Use code LR32K

4. Or get 5% off when you sign up with Saily, another global eSIM with a built-in VPN & ad blocker.

5. Get 25% off when you sign up for Trusted Housesitters, a site that helps you find sitters or homes to sit in.

6. Start your podcast with my company, Podbean, and get one month free!

7. In the United States, I recommend trading cryptocurrency with Kraken.

8. Outside the USA, trade crypto with Binance and get 5% off your trading fees!

9. For backpacking gear, buy from Gossamer Gear

10. Get nomadic travel insurance from SafetyWing!

Get full access to Francis Tapon at ftapon.substack.com/subscribe