Anonymous Wallet Spends 1.5 BTC to Inscribe Encrypted Data on Bitcoin Blockchain
In a series of intriguing transactions, an anonymous wallet has spent 1.5 BTC, equivalent to approximately $66,000, to inscribe a substantial volume of encrypted data on the Bitcoin blockchain. Executed through 332 transactions, this costly operation has incurred high fees, with some transactions costing thousands of dollars, although most are closer to $200.
An Enigmatic Inscription Worth Over $60,000 on Bitcoin
The inscription, totaling nearly 9 megabytes, remains a mystery as the encrypted content has not yet been deciphered. This action has elicited various reactions on X, ranging from jokes to speculations about the motivations behind these inscriptions. The X account of the Ordinals explorer, Ord.io, has shared the information, further fueling curiosity.
Surprising Actions Surrounding Bitcoin
The Ordinals protocol, which allows data to be assigned to specific satoshis—the smallest unit of Bitcoin—has been used in this operation. While Ordinals are commonly used to store art directly on the blockchain, all sorts of data can be inscribed, including encrypted text.
The encrypted inscription is not the only recent and unusual use of the Bitcoin blockchain. Another anonymous wallet has sent 1.2 million dollars to the Genesis wallet mined by Satoshi Nakamoto, a sum that is likely irrecoverable since Satoshi’s wallet funds haven’t moved since 2010.
The reason for this ‘donation’ remains unknown, with some members of the community speculating it could be an attempt at legal pressure, as the amount forces the wallet owner to declare these funds to the authorities if their jurisdiction requires it.
