Bitcoin Ordinals Creators 'Burn' $525K Inscription to Satoshi as Joke, Locking Runestone Collection

The creators of the popular Bitcoin Ordinals project Runestone sent an inscription valued at 8 BTC ($525,000) to a wallet thought to belong to Bitcoin's creator Satoshi Nakamoto.

The inscription was the largest yet at 4MB and was sent as a joke to "burn" it by making it inaccessible, preventing any future changes to the collection.

Burning the "parent inscription" seals the Runestone collection, limiting it to the existing 112,384 inscriptions.

Last week 112,383 Runestone inscriptions were airdropped to early believers in Ordinals as a reward for participation in the first year.

The Runestone collection now has a floor price of 0.0526 BTC ($3,445) on Magic Eden's Bitcoin marketplace, with 882 BTC ($57.8 million) in volume.