Franklin Templeton praises Bitcoin Ordinals: a betrayal to the purists?

The controversies surrounding Bitcoin Ordinals never cease. While BTC maximalists criticize, financial giant Franklin Templeton applauds. The crypto community is left speechless!

Bitcoin Ordinals: The Strange Attraction of Franklin Templeton

As Luke Dashjr announces the end of registrations for Bitcoin Ordinals this year, sparking the ire of Bitcoin maximalists, Frank Templeton stands out with an unexpected statement, full of optimism.

The Rise of Bitcoin Ordinals pic.twitter.com/nKLwwlMM4d

— Franklin Templeton Digital Assets (@FTI_DA) April 3, 2024

In the frenzy of digital collections, Bitcoin Ordinals are now fascinating even financial giants like Franklin Templeton, according to Decrypt. In a recent prospectus, the investment firm’s digital assets division highlights the rise of these curious creations.

Franklin Templeton Digital Assets underscores the buzz surrounding Bitcoin NFTs, called Ordinals, as well as other emerging innovations in the cryptocurrency ecosystem. This sudden attention highlights the growing impact of Ordinals in the world of digital assets.

The Ordinal phenomenon was initiated by Casey Rodarmor, whose protocol gave rise to a new approach by assigning a specific number to each fraction of Bitcoin, or Satoshi. This “ordinal theory” quickly gained popularity, fueling a wave of interest and activity in the NFT markets.

Franklin Templeton Digital Assets highlights the rise of Ordinal collections, including projects such as NodeMonkes, Runestone, Bitcoin Puppets, Ordinal Maxi Biz and Bitmap. These names, until now unfamiliar in the traditional financial domain, are indicative of the originality and diversity of the Ordinals (ORDI) ecosystem.

The growing attention to Ordinals is also illustrated by their constantly increasing trading volume, even surpassing Ether in terms of volume since December 2023. This trend demonstrates the rapid evolution and growing importance of Ordinals in the digital asset landscape.

A Visionary Player in the World of Digital Assets

In the circle of digital assets, Franklin Templeton has demonstrated progressive foresight. With the SEC approval of the Bitcoin ETF (EZBC) in January, Templeton has shown firm support for cryptocurrency.

Its digital assets team has not hesitated to openly support blockchain technology, even investing in Ordinals infrastructure startups. Templeton’s attention has recently been focused on Runestone, becoming the third largest NFT collection in terms of market capitalization.