So, you know that bogus tweet about the SEC green-lighting Bitcoin ETFs? Well, turns out, it’s now a legit piece of Bitcoin history. Gary Gensler, the SEC Commissioner, spilled the beans that their Twitter account got a bit too cozy with hackers, leading to a false alarm on Bitcoin ETF approvals. The aftermath? Bitcoin’s value took a nosedive from $47,680 to a shade above $45,500.
Digital artist Billy Restey wasn’t about to let this tweet fiasco fade into oblivion. He decided to immortalize it on the Bitcoin blockchain through what he calls an “Ordinals Inscription.” In simpler terms, it’s like a fancy NFT but for Bitcoin.”Just so we don’t forget, this tweet has been immortalized on Bitcoin forever,” Restey proudly declared.
The Ordinals Inscription, marked as number 53,995,422, joins the ranks of over 53 million similar inscriptions that have been created since January. These are like Ethereum-based NFTs, but for Bitcoin, thanks to the cool updates in the Bitcoin protocol, like Taproot. People have etched everything from images to text and even video games onto the Bitcoin blockchain.
Now, you might be wondering if an SEC intern accidentally hit the “send” button. The agency quickly dispelled that rumor, stating the tweet was not their doing. It seems someone had a bit of mischievous fun.
This tweet incident adds some spice to the ongoing suspense around the SEC possibly giving the nod to a spot Bitcoin ETF. More than a dozen proposals, including heavyweights like BlackRock and Fidelity, are eagerly awaiting approval. VanEck CEO Jan van Eck even tossed in his prediction, suggesting that Bitcoin ETF trading could kick off as early as Thursday.
After the dust settled, Gensler took to Twitter, not to brag about his newfound NFT status, but to remind everyone about account security. The man has a point; scams in the crypto world are no joke. He’s been waving the caution flag, warning investors about fraudsters trying to cash in on the crypto craze. From pyramid schemes to wallet theft, it’s a jungle out there.
So, in the spirit of Gensler’s tweet, remember to lock down your accounts, use robust passwords, set up that fancy two-factor authentication, and keep those alerts on. Because in this digital age, it’s not just about trading crypto; it’s about keeping the scammers at bay.