On this day 13 years ago, @mavensbot shared a wizard in MS Paint style on r/bitcoin.
What started as a joke became the mascot of Bitcoin, a symbol of a movement etched into history that lives on.
Happy 13th Birthday, Bitcoin Wizard 🧙♂️✨
I don’t like debate—because you can never wake someone who is pretending to sleep.
That said, clarifying the facts matters. For the record:
1.BTC began declining roughly 30 minutes before the USDe depeg.
This exactly supports the earlier point: the initial move was a market shock.
Absent the USDe leverage loop, the market would likely have stabilized at that point. The cascading liquidations were not inevitable—they were amplified by structural leverage, as explained previously.
2.Dragonfly has never been an investor in OKX—neither a minor nor a major one.
In fact, OKX invested in Dragonfly before @hosseeb joined the firm.
Separately, one partner’s previous fund (not Dragonfly) invested in OKX. These are distinct and easily verifiable facts.
3.I will not spend further time on this topic.
The facts are clear. I do not intend to engage in extended debate.
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.
If this were any other chain the fudders would be right and our ecosystem would be permanently cooked
But Ordinals and Runes live on Bitcoin and will still be on Bitcoin in 100 years
No other blockchain can credibly claim that it will be relevant in even 10 years
When you inscribe a file into Bitcoin it becomes more permanent than stone
When you issue a memecoin on Bitcoin it becomes more scarce than gold
There are still people rocking PFPs stored on AWS who have the audacity to compare an ERC-721 pointer to an immutable digital asset on the largest and most secure blockchain in the world
Our job is not done until everyone bends their knee to the mother chain
Ordinals must become the #1 non-fungible token standard in the world
Runes must become the #1 fungible token standard in the world
Do not give a single inch to the fudders
Bitcoin is king