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David Puell

Ark; Puell Multiple, miner-economics on-chain framework

On-chain Bitcoin analyst known for creating the Puell Multiple, a market-cycle indicator based on daily miner revenue relative to its moving average.

#23Crypto/Bitcoin Strategists
59/ 100
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Top 100 Crypto/Bitcoin Strategists
Rank #23·Ark; Puell Multiple, miner-economics on-chain framework
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Adam Back
Blockstream; Hashcash inventor; BTC-maximalist engineering thesis
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Aleksander Larsen / Jiho
Sky Mavis / Axie; play-to-earn framework (historical)
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Galaxy research; market-structure publishing
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Alyse Killeen
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Andreas Antonopoulos
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Andrew Kang
Mechanism Capital; market-structure + reflexivity essays
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Anthony Pompliano
Pomp Letter; Bitcoin-as-savings-tech
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Last updated
10 May 2026
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