Summary
TLDR: The creators of the Bitcoin Ordinals project sent a valuable Runestone inscription to a wallet believed to belong to Satoshi Nakamoto as a way to “burn” it and seal the collection on-chain. This move was a joke and part of the design of the protocol. The project recently completed a successful airdrop, and the Runestone collection has a current floor price of 0.0526 BTC.
Key Points
1. The creators of the Bitcoin Ordinals project called Runestone sent the original “parent” inscription, valued at 8 BTC, to a wallet believed to belong to Satoshi Nakamoto, the mysterious creator of Bitcoin.
2. The move to send the Runestone to Satoshi’s wallet was a symbolic act to “burn” or effectively destroy the inscription, sealing the collection on-chain and preventing any changes or future inscriptions from being linked to it.
3. The Runestone collection, which has a current floor price of 0.0526 BTC and a total trading volume of 882 BTC ($57.8 million), was distributed through an airdrop to over 83,000 wallets as a reward for early believers in the Ordinals movement.