Magic Internet Money

1 The gap: the biggest chain has the smallest meme coin share of its market cap

Meme coins weigh 111x more in Ethereum’s market cap than in Bitcoin’s, and 368x more in Solana’s.

• In 2026, CoinGecko and CoinMarketCap both added a dedicated Bitcoin meme coin category. CoinGecko
• Valuable assets gravitate to the safest chain; its meme coins are still a small share of it. Thread

Unipcs (aka 'Bonk Guy') 🎒@theunipcs

BTC memecoins could be the easiest 50 to 100x opportunity in all of crypto. here's why...

let's do some quick mathematics:

- $ETH memecoins market cap: $20 billion+
- $SOL memecoins market cap: $9 billion+
- $DOGE market cap: $16 billion

- how about $BTC memecoins market cap? a measly $2 billion!

on the other hand:

- $BTC market cap: $1.23 trillion
- $ETH market cap: $291 billion
- $SOL market cap: $68 billion

in other words:

- Solana memecoins = 13% of the SOL market cap
- Ethereum memecoins = 7% of the ETH market cap
- Bitcoin memecoins = 0.16% of the BTC market cap

BTC memecoins are one of the most asymmetric bets in all of crypto right now... and it's not even close!

of course, you will have copers and midcurvers saying:

'...but the Bitcoin chain is so slow and no one will be buying memecoins on it'

to which i have the following responses:

1. did the slowness of the Bitcoin chain prevent BTC itself from getting adoption?
2. have you seen anyone trading Dogecoin on its own blockchain? how come that single cryptocurrency has a market valuation of $16 billion (i.e. 8x the valuation of ALL memecoins in the Bitcoin eco combined)

at the end of the day, it's all about the narrative

top CEXs will soon start listing BTC eco memecoins, and then they will get turbo bids from retail and BTC purists with a lot of capital lying around who would not touch anything outside of the BTC eco with a 10 foot pole

but by that time it would cost several more Xs than it does right now to buy them

your way to generational wealth is to frontrun them before CEXs make it easy to buy these BTC memecoins

'so bonk guy, what BTC memecoins are you bidding?'

i'll keep it simple:

- $WIZARD
- $PUPS
- @WaddlePenguRune
- $BDC

ofc i know there are many more BTC memecoins with strong communities, so feel free to shill yours in the comments

you never know, i just might buy your coin and become one of its biggest advocates!

More posts on In their words ›

2 The asset: Bitcoin’s first meme, now its coin, etched by its original artist

First is first. For culture coins, provenance cannot be manufactured.

1. 2013r/Bitcoin needs an ad. Mavensbot draws it in MS Paint. Bitcoin goes $27 to over $1,000 that year, and the ad becomes the meme: South Park, then a crowdfunded Wall Street Journal page in 2017. Origins
2. 20231,337 wizards inscribed. $WZRD free mint, day one of BRC-20.
3. Mar 2024The artist buys the 2013 drawing as inscription #70, the 70th ever. Post
4. 20 Apr 2024Rune #17, etched in the halving block. The rune
5. 2025WZRD becomes MIM on 18 Feb, at 13:37. On 15 Apr the 2.4B unclaimed go to Satoshi. Forever. The burn

• Mavensbot, the original artist, holds a key from block 1,018, mined in January 2009 (verified on the proofs page).
• No utility, on purpose. The oldest meme on the chain. Thread
• The name is unique on Bitcoin, forever: a rune is etched once, so by the protocol’s design no other coin can ever carry it. The rune
• Say “MIM” out loud. You just said “meme”. Mavensbot put those three words together in February 2013, ten months before the first meme coin existed. He knew. Post

Arjun Sethi@arjunsethi

At @krakenfx , we know every coin has a story. For $MIM @mimcoinbtc, that story is about reviving one of the most iconic memes in crypto history: Magic Internet Money.

In 2013, a subreddit moderator named theymos opened a thread asking for ideas for a Reddit ad for r/bitcoin. Within an hour, @mavensbot sketched a wizard holding a Bitcoin staff with the words “Magic Internet Money.” The community loved it.

A few months later, the ad went live. The Bitcoin Wizard became more than a drawing, it became the mascot of a movement. The ad was Reddit’s most successful ever, helping propel Bitcoin’s rise from $27 to $1,132 and growing r/bitcoin from 10,000 to 100,000 members by 2014.

The phrase “Magic Internet Money” captured the mood of the time. It was playful and strange, yet it perfectly expressed the mystery and excitement of Bitcoin’s early days. Over the years, the Wizard grew into a cultural symbol, reminding us that crypto is built as much on imagination and community as it is on technology.

A decade later, @mavensbot returned to his legendary creation. This time, it was not just drawn, it was minted into a token: $MIM.

$MIM had a fair launch as a BRC20 token in March 2023, migrated to the Runes standard in April 2024, and permanently closed migration in April 2025, with all non migrated supply sent to Satoshi’s wallet. The supply is 100 percent circulating, with no team allocations, no centralized vesting, and no hidden unlocks.

The $MIM ticker is a direct tribute to the original “Magic Internet Money” slogan. It represents Bitcoin culture, history, and provenance, immortalized on chain by its original artist. Supporting $MIM is about more than trading, it is about recognizing and preserving the lore that shaped this industry.

At Kraken, we understand the importance of Bitcoin tokenomics and the role memecoins and the on chain Bitcoin economy play in the network’s long term sustainability. That is why we back communities for the long term, supporting both their culture and their future.

This is one of the reasons we listed $MIM Magic Internet Money, to help revive and carry forward a piece of Bitcoin history. From a Reddit ad to a global meme, and now to a token on the Bitcoin blockchain, this is how crypto’s story lives on.

With $MIM, the Wizard’s magic continues. And with our support and the communities, so does the story of Magic Internet Money. The Bitcoin on chain economy revolution has only just begun.

More posts on In their words ›

3 Proof of attention: the industry already loves the meme

• Kraken listed it. Its co-CEO shared the story. Post
• Coinbase animated it: 3.1M views. Elon reposted. Post
• “$MIM could be the future of capital markets for venture capital.” Kraken’s co-CEO. Post
• OKX, HTX, Xverse, Robinhood, CZ all say the words. The wall
• Unipcs holds 0.5% and had not sold as of August 2025. Post
• Dogecoin’s co-founder, in his own words: “the greatest meme is the one I saw from Reddit, which was the Wizards.” The drawing is what made him click through to r/Bitcoin, and he went on to co-found DOGE. Clip
• Ansem explains how the wizard meme drew Dogecoin’s co-founder to Bitcoin. Post

Coinbase 🛡️@coinbase

Grok Imagine: Bring this legend to life.

▶ video

More posts on In their words ›

4 The technical ground: what shipped on Bitcoin since 2024

Until 2025, Bitcoin meme coins traded in fixed lots. Today they swap natively, any size, like on every other chain.

• Native pools on L1, on Nexus: any size, self-custodial, no wrapper. In-wallet swaps on Xverse. Post
• A Kraken listing, MIM/USD and MIM/EUR. Every venue
• UniSat’s order book, UniHexa, opened on 14 Sep 2026 with three launch pairs: MIM, DOG and UNCOMMON•GOODS. Whitelist beta. Three days earlier UniSat shipped a time lock for Runes, so LP and treasury commitments can be proven on chain. UniHexa · Time lock
• A bridge, Runemine, to Solana: buy on Jupiter, Meteora or FOMO, and from the X feed’s Trade button. Jupiter
• USDT coming to Bitcoin L1 on RGB, settled over Lightning, confirmed by Tether, UniSat a launch partner. Tether

Paolo Ardoino 🤖@paoloardoino

It's coming home

Bitfinex@bitfinex

USDt once ran on Bitcoin. Cost and speed took it elsewhere. @RGB_Hub and @utexocom are bringing it back to where it belongs, anchored to Bitcoin, settled over Lightning, while keeping contract logic off-chain.

5 The birth of the Bitcoin on-chain economy

Bitcoin’s security is paid by a subsidy that halves to zero. The token layer is what progressively replaces it: every meme coin swap on Bitcoin pays the people who secure Bitcoin.

• The problem. Subsidy 3.125 BTC a block. Halves in 2028. Ends at zero. Fees today: 0.4% of miner revenue. mempool.space
• The horizon. Last subsidy around 2140. After that, fees are the whole security budget. Controlled supply
• The answer, already running. Bitcoin meme coins already pay the miners: on 11 Sep 2026, 80% of Bitcoin transactions were Runes-related. Source
• Bitcoin meme coins live on satoshis: the unit of account and the collectible are the same object.

Fees paid to miners, by inscriptions and by Runes.

Vincent (Cryptolution) 👑@cryptolution101

BREAKING: Bitcoin memecoins (#Runes) just hit their 2nd-highest share of all Bitcoin transactions since Runes launched on April 20, 2024, with 80.24% of Bitcoin transactions on September 11, 2026

More posts on In their words ›

6 What changed since 2024: the rails are built

Same meme, same artist, same supply. Only the rails changed.

• 2024. Hype at the halving launch. WZRD at about $13, 21M coins: $275M. Fixed lots, no swaps.
• Early 2025. No pools, no router, no CEX listing, no bridge, no wallet that handled it properly. The money left: $3M by early 2026.
• 2026. All of it built: pools, a CEX listing, a bridge, an order book.

7 What happens next: known developments, each with its status

Three live, three in progress.

1. LiveThe most anticipated Ordinals collection, announced November 2024: 10,000 community-drawn wizards to be inscribed under #70, permanent. 1,885 inscribed so far. Tracker
2. VotedThe community voted to give the 10K collection’s whitelist to holders of MIM or of an OG wizard; no snapshot date yet. Post
3. LiveCashtags in the X feed carry a Trade button since 15 Sep 2026, US first, and Kraken, which lists MIM, is one of the five launch partners. Post
4. In progressUSDT on Bitcoin L1 on RGB, UniSat a launch partner (post), and Keystone, Nexus’s draft Runes protocol extension adding controlled minting so stablecoins and RWAs can exist as Runes (draft).
5. In progressUniHexa, a Bitcoin L1 order book with self-custody, by the UniSat team: MIM is a launch pair, trading beside DOG and UNCOMMON•GOODS. Whitelist beta since 14 Sep 2026, a four-week rewards campaign that ran from 22 Sep to 20 Oct, and RWAs and stablecoins on the roadmap. Post · Campaign
6. In progressLP and treasury locks anyone can verify on chain, with the time lock for Runes UniSat shipped on 11 Sep 2026. Post

Arjun Sethi@arjunsethi

London | HK | Nasdaq | .... whats next....

More posts on In their words ›

8 The cap table: 100% circulating, no unlocks

Satoshi is its largest holder.

• Fair launch, free BRC-20 mint in March 2023, Runes since 2024: 3.5 years of supply redistribution. The deploy
• “100% circulating. No team allocation, no vesting, no unlocks.” Kraken co-CEO

9 The people: a meme with a truly passionate community

A collection co-created: drawn by anyone, curated by holders, for the first Bitcoin meme, 13 years on.

• 60,000 drawings, 10,000 to be inscribed under inscription #70. Thread
• Six in ten wizards sit on sats from Bitcoin’s first transaction, Satoshi to Hal Finney. Tracker
• Three apps and the gallery, built by holders: markets, supply, collection and the gallery.

Magic Internet Money@mimcoinbtc

2013: a hand-drawn wizard becomes Bitcoin’s most famous meme. 2026: it is becoming 10,000 of them, drawn by the people who love it. No studio. No artist roster.

More posts on In their words ›