Hi, it’s Marc. ✌️
Bitcoin is experiencing a renaissance.
Last year, the Ordinals (BRC-20) protocol brought NFTs to Bitcoin with over 66M inscriptions to date and a $2.65B market cap. Recently, Layer2 protocols, such as Lightning or Stacks, picked up as well.
Now, Bitcoin Runes introduces a new fungible token standard on Bitcoin, enabling a host of new innovations such as DeFi, Tokenization, Stablecoins, and more. They also create new asset class accessible to anyone (without the VC-tax).
This is massive. And it opens new opportunities for builders, brands and corporates.
Every builder and corporate should start considering Bitcoin as a serious contender to other L1 smart contract chains, whether it’s for asset tokenization, stablecoins, memecoins or even NFTs.
I’m thrilled to share the latest episode of our podcast with Isabel Foxen Duke who played a key role in launching the Ordinals protocol as a Communications Director. Now she’s GP at Unbroken Chain, the first Ordinals hedge fund.
Isabel Foxen Duke’s key quote:
“Ordinals” allow users to inscribe (“mint”) files to Bitcoin's blockchain for the first time ever, including images, text, small videos, etc. without a separate token, side chain, or change to Bitcoin’s underlying code.
Key takeaways:
Immutability and decentralization: Bitcoin Ordinals are stored directly on the Bitcoin blockchain, ensuring greater censorship resistance and immutability compared to NFTs on EVM chains or Solana.
Unique Digital Artifacts: The Ordinals protocol uses "inscriptions" to attach data to individual satoshis, allowing for creating and transferring unique digital artifacts despite Bitcoin's block size limits.
Significance of Ordinals: Ordinals enable NFT trading on Bitcoin, benefiting from its superior liquidity and offering greater permanence for NFTs.
Unbroken Chain Fund: Unbroken Chain provides investors with exposure to a broad range of Ordinals assets, offering a different investment strategy compared to traditional crypto venture capital.
Runes Protocol: Runes aims to create fungible tokens on Bitcoin's layer one more efficiently, fostering the development of many projects within the Bitcoin ecosystem.
Bitcoin Renaissance: There is renewed interest in Bitcoin, with liquidity expected to flow back to Bitcoin from other ecosystems as new possibilities are unlocked.
Memecoin era and investment trends: The "memecoin era" is expected to continue, with venture capital focusing on layer 2 solutions built on Bitcoin, while retail investors prioritize fair launch projects like Ordinals and memecoins.
That’s all for now, folks. Thank you for being part of the journey.
Talk soon,
– Marc
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Ordinals, Runes, and the Next Bitcoin Bull Run