Elon Musk Shares Coinbase Tweet Featuring the Legendary ‘Magic Internet Money’ Meme (2025 Update)
- Why Did Elon Musk’s Repost of the “Magic Internet Money” Meme Go Viral?
- Grok AI: The Tech Behind the Animated Bitcoin Wizard
- The Origins of the “Magic Internet Money” Meme
- How $MIM Became the Hottest Memecoin on Bitcoin’s Runes Protocol
- Are Centralized Exchanges Like Coinbase and BTCC Eyeing $MIM Listings?
- Which Other Bitcoin Memecoins Could Get Exchange Listings?
- FAQs: Elon Musk, $MIM, and the Magic Internet Money Phenomenon
Elon Musk has once again sent the crypto world into a frenzy by resharing Coinbase's tweet featuring the iconic "Magic Internet Money" meme—a pixelated wizard that became Bitcoin's unofficial mascot back in 2013. This time, the vintage meme got a high-tech twist with AI-powered animation, sparking a 65% price surge for the $MIM memecoin tied to Bitcoin's Runes protocol. Below, we unpack why this quirky crossover of nostalgia and innovation has traders and exchanges like Kraken and BTCC buzzing.
Why Did Elon Musk’s Repost of the “Magic Internet Money” Meme Go Viral?
When Elon Musk hit "retweet" on Coinbase’s post showcasing the animated "Magic Internet Money" wizard, it wasn’t just nostalgia at play. The meme—originally drawn in Microsoft Paint—now had AI-generated motion thanks to X’s integrated Grok tool. Musk, a longtime crypto provocateur, cleverly bridged Bitcoin’s grassroots past with today’s AI boom. Within hours, the related $MIM token skyrocketed to $0.0055 (4.2 sats), pushing its market cap past $100M. Data from CoinMarketCap shows trading volume spiked 300% on decentralized platforms like Magic Eden.
Grok AI: The Tech Behind the Animated Bitcoin Wizard
X’s Grok AI, which Musk has heavily promoted, added a surreal LAYER to this crypto history lesson. By animating the static 2013 wizard, Grok demonstrated its image-processing chops—a not-so-subtle nudge to the crypto community to experiment with X’s ecosystem. "It’s like seeing your childhood doodle come to life with a PhD in machine learning," quipped a BTCC market analyst. Notably, the meme’s original creator, Mavensbot, still holds a stash of $MIM, adding authenticity to the hype.
The Origins of the “Magic Internet Money” Meme
Born from a 2013 forum joke, the crudely drawn wizard became shorthand for Bitcoin’s absurd yet revolutionary nature. Exchanges like Binance and Kraken later adopted the phrase, while figures like ex-CEO CZ used it to troll skeptics. The meme’s resurgence highlights crypto’s cultural staying power—what started as a Paint doodle now moves million-dollar markets. As one trader joked, "The wizard’s spell? Turning ‘dumb money’ into ‘magic internet money’ since 2013."
How $MIM Became the Hottest Memecoin on Bitcoin’s Runes Protocol
Unlike typical meme tokens, $MIM boasts rare pedigree: it’s Rune #17, minted on day one of Bitcoin’s Runes launch, and backed by the original artist. After Musk’s tweet, its price chart looked like a wizard’s wand casting a bull spell—up 65% in under an hour. TradingView charts show buy orders flooding DEXs, with OTC desks reporting FOMO from institutional traders. "This isn’t just another dog coin," noted a Kraken rep. "It’s a piece of crypto folklore with actual utility."
Are Centralized Exchanges Like Coinbase and BTCC Eyeing $MIM Listings?
Kraken’s recent tweets hinting at $MIM ("Wizard mode activated 👀") suggest an imminent listing, following its additions of $DOG and $LOBO Runes. Coinbase staff have also ramped up bitcoin memecoin discussions—coincidence? Probably not. BTCC’s research team confirms evaluating $MIM’s "cultural liquidity," though warns: "Memecoins are high-risk spells." If listed, $MIM could attract speculative capital akin to 2021’s DOGE mania.
Which Other Bitcoin Memecoins Could Get Exchange Listings?
Beyond $MIM, exchanges are likely vetting:
- $DOG (Runes’ top memecoin by volume)
- $LOBO (Kraken’s latest addition)
- $RSIC (Gaming-themed Rune)
As one BTCC trader mused, "The real magic? Getting a 100x before the SEC says ‘Abracadabra, you’re a security.’"
FAQs: Elon Musk, $MIM, and the Magic Internet Money Phenomenon
What is the "Magic Internet Money" meme?
The meme is a pixelated wizard drawn in 2013 to humorously represent Bitcoin. It resurfaced in 2025 when Elon Musk shared an AI-animated version posted by Coinbase.
Why did $MIM’s price spike after Musk’s tweet?
Musk’s endorsement triggered speculative trading. $MIM’s ties to the original meme artist and its status as RUNE #17 added credibility, per CoinMarketCap data.
Which exchanges might list $MIM next?
Kraken and Coinbase are prime candidates based on their recent memecoin listings and social media activity. BTCC is also monitoring demand.
