← Go back Jan 01, 2024
An unknown Bitcoiner has spent about 1.5 BTC (currently worth about $66,000) to inscribe almost 9 megabytes of encrypted data onto the Bitcoin Blockchain. The anonymous wallet inscribed the data onto the Bitcoin Blockchain in over the course of 332 transactions. The most expensive transactions cost thousands of dollars each in fees, though most of the transactions were closer to $200 . The process was enabled through the Ordinals protocol. The Ordinal Protocol ascribes data to certain satoshis — the smallest unit of a Bitcoin. The crypto and Web3 space has reacted to the inscription with jokes, speculation, and Rickrolls from X users speculating on the motive behind the actions. The Bitcoin Blockchain has been seeing strange activity recently. An anonymous wallet recently sent $1.2 million to the Genesis wallet mined by Satoshi Nakamoto, the supposed founder of Bitcoin.
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