Bitcoin smashes ATH in 30+ countries

February 29, 2024 • Reading Time:6 minutes

GM. Today on Money Printer Go Brrr newsletter:

Bitcoin smashes ATH in 30+ countries
Newest hype in BTC ecosystem
4 things you should know today

Bitcoin reaches ATH in several countries 🔥

It’s crazy, but it’s true!

There are more than 30 countries where Bitcoin has already seen an ALL TIME HIGH! 🔥

The list includes the Japanese yen, Malaysian ringgit, Indian rupee, Taiwan dollar, South Korean won, Chilean peso, Australian dollar, Canadian dollar, Chinese yuan, South African rand, Norwegian krone, and Turkish lira.

This jump is the biggest we've seen in a month since way back in 2020.

💡 It's kinda wild, but it's mostly because those fiat currencies are losing value thanks to some serious inflation.

The dark side

There is something that has affected all of us → Money Pritner Go Brrr (inflation).

This applies to many other fiat currencies, as the global inflation rate has increased.

And the retail investors have not yet joined the club, according to Bitcoin Google Trends…

Why is Bitcoin pumping?

Capital inflows into (plus their recent launch) the Spot Bitcoin ETFs
— 3 most popular, run by Grayscale , Fidelity and BlackRock, have seen trading volumes surge.
Anticipation of the Bitcoin halving event
— leads to reduced supply and increased demand, pushing prices up.
US Federal Reserve's rate cuts
— the prospect of lower interest rates has made riskier assets more attractive.
Corporate investments
— companies like MicroStrategy and social platforms like Reddit investing in Bitcoin have signaled strong institutional support.
And a pinch of FOMO (fear of missing out).

Newest hype in BTC ecosystem

What's the Deal?

Runestone is this new project on the Bitcoin blockchain, part of the whole Ordinals craze.
It's about turning digital art and collectibles into something like Bitcoin-native NFTs.

Why the Hype?

It's linked to a bigger plan for creating fungible tokens on Bitcoin, which could shake things up in the crypto world.
Plus, there's a chance for early supporters to gain financially when the full project, called Runes, launches.

The Ethereum ecosystem airdropped 25 billion dollars to itself during the last cycle.
Now it's Bitcoin's turn.
Ordinal airdrop season has arrived.
— Leonidas (@LeonidasNFT)
12:27 PM • Feb 20, 2024

Who are Leonidas and Casey Rodarmor

Leonidas is a Crypto Twitter personality and the founder of Ordinals explorer ord.io.

Picture a digital Indiana Jones of the Bitcoin world, diving into the depths of the blockchain to unearth digital treasures.
Casey Rodarmor is the brain that drove Bitcoin toward a digital art gallery — the Ordinals’ creator.

What’s Ordinal?

→ think of Ordinals as Bitcoin's way of saying, "I can do NFTs too, but with more numbers and less fluff.”

It's like turning every Bitcoin into a tiny digital museum piece.

→ ordinals are a numbering system used to track and transfer individual satoshis.

→ on this individual satoshi → you ‘inscribe’ (attach) data to it — images, songs, etc.

→ 🔥 the biggest key differentiator from normal NFTs, is that Ordinals are stored completely on-chain, and not on IPFS servers.

What’s Runestone?

Runestone is the latest craze in the Bitcoin 'hood, kind of like digital Pokémon cards but with more mystique and fewer pocket monsters.
There is no team allocation, no entity behind it, no utility, and no roadmap.
Leonidas says it is a pre-Runes (❓️) project that will illustrate Casey Rodarmor's vision for fungible tokens on Bitcoin.

Ok, now what’s and why Runes?

After creating the Ordinals, Casey Rodarmor introduced a new protocol on Bitcoin.
It's all about making fungible tokens easier to handle on Bitcoin.

How so?

→ the current Ordinals design tends to clog the network and increase transfer fees.

→ ordinals have ‘undesirable consequences of Unspent Transaction Output (UTXO) proliferation’

→ UTXO represents the amount of Bitcoin remaining after a transaction is executed, essentially serving as the balance of a Bitcoin address for future transactions.

→ each ordinal transaction requires a separate Bitcoin transaction

→ in contrast, Runes token balances will be held by UTXOs, and each transaction output can ‘contain any amount of any number of runes’.

💡 Learn more about UTXO and how it affects you: link.

How to join the Runestone airdrop?

113,376 Runestones.
113,376 addresses.
Runestone will be one of the largest airdrops in crypto history.
— Leonidas (@LeonidasNFT)
12:54 PM • Jan 31, 2024

💭 At the time of writing, there are about 113,000 addresses eligible for the airdrop.

if by now, you found yourself that this is your cup of tea head here to learn how to get that honey.
you can verify your eligibility using the same link
Here is the discord community: http://discord.gg/runestone

💡 Important → this whole thing is a big experiment.

There's no roadmap or guarantees.

It's all about community and speculation. So, tread carefully and do your homework.