Bitcoin’s mysterious creator, Satoshi Nakamoto, now holds a significant asset in the form of the ultimate Runestone Ordinal. This inscription, valued at 8 BTC (approximately $525,000), was sent to Nakamoto’s wallet by Leonidas, a contributor to the popular Bitcoin Ordinals project called Runestone. Initially, there was some confusion as Leonidas jokingly claimed it was a mistake and that the inscription couldn’t be retrieved. However, this was reminiscent of a recent meme in the crypto community and was merely a playful act.
So why send such a valuable asset to Nakamoto’s wallet? The intention was to “burn” or effectively destroy the inscription, making it inaccessible and ensuring no changes could be made to the collection. By doing so, the Runestone collection is now permanently sealed on the blockchain, with a limited total of 112,384 Runestones.
The collaboration between OrdinalsBot, Marathon Digital Holdings, and Leonidas facilitated this process. The Runestone itself was created over two Bitcoin blocks, and despite its significant value, the transaction to Nakamoto’s wallet was no different from regular transfers.
Last week, the highly-anticipated Runestone airdrop rewarded early believers in the Ordinals movement with 112,383 inscriptions. These inscriptions have already gained widespread popularity, with over 83,000 wallets holding a Runestone. Currently, the floor price for a Runestone is 0.0526 BTC (around $3,445), and the total trading volume on Magic Eden’s Bitcoin marketplace has reached 882 BTC (approximately $57.8 million).
The actions of sending the ultimate Runestone Ordinal to Nakamoto’s wallet not only carry symbolic significance but also contribute to the uniqueness and scarcity of the Runestone collection. It remains to be seen if Nakamoto will make any public statements or take any actions regarding this newfound possession.