Reviewing “Modelling Bitcoin’s Value with Scarcity” —Part II: The hunt for cointegration

Does OLS regression of natural logarithms of bitcoin price and stock-to-flow ratios result in spurious regression, or are we dealing with the exceptional case of cointegration?

In my first review of the work of PlanB, I concluded that the relation between stock-to-flow and bitcoin price as pointed out by the author was invalid because the general assumptions of…