May 29, 2024
Bitcoin User Spends $64K for Mysterious 9MB Inscription
Bitcoin News

Bitcoin User Spends $64K for Mysterious 9MB Inscription

An unidentified individual has spent approximately $64,000 in fees to inscribe nearly 9 megabytes of raw binary data on the Bitcoin blockchain. The Ordinals explorer Ord.io reported that over 1 Bitcoin (BTC) was used to create 332 inscriptions on Jan. 6 at around 11:20 am UTC.

The data consists of “raw binary data,” and its purpose or content remains a mystery. The Bitcoin address involved in this mysterious activity is labeled “Unnamed” on Ord.io. The encrypted data includes a mix of English, Greek, and mathematical symbols. Notably, two of the inscriptions feature a digital pepperoni pizza, signifying sats from the 10,000 BTC used to purchase two Papa John’s pepperoni pizzas in 2010.

Users and experts have attempted to decipher the data, with some suggesting it may be encrypted and challenging to decrypt. The recent inscription mystery follows the unusual event where 26.9 BTC, worth $1.17 million, was sent to Bitcoin’s Genesis wallet on Jan. 5.

The purpose behind this transaction has sparked various theories, including speculation about Satoshi Nakamoto’s involvement or an attempt to flush out the anonymous Bitcoin creator. However, the latter theory would only be valid if Nakamoto were subject to U.S. tax laws. The inscribed data and the significant Bitcoin transactions continue to captivate the crypto community, raising questions about the motives and identities behind these activities.

Image by pvproductions on Freepik

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