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On New Year's Day 2014, the FuzzyBear wallet placed a symbolic limit order on the XRP Ledger decentralized exchange offering 1 XRP for 1 BTC rather than 1 XRP per Bitcoin.
Evernorth recounts this tidbit of XRP history in a recent X post. On February 21, 2013, seven weeks after the XRP Ledger was first launched, a wallet was activated and given the name Fuzzybear.
Then, on January 1, 2014, the Fuzzybear wallet did something that made longtime supporters of XRP smile. It placed an order on the XRP Ledger's built-in decentralized exchange offering one XRP for one Bitcoin.
According to Evernorth, the order was seen as a symbolic declaration that XRP was architected to be an upgrade on earlier blockchains, "offering faster settlement times, drastically lower fees, and a native decentralized exchange."
Evernorth completed its business combination with Armada Acquisition Corp. II in September, and on October 12 at 9:30 a.m. Eastern Time, Evernorth's shares began trading on Nasdaq under the ticker symbol "XRPN." The treasury company holds about 473 million XRP, seeking to utilize that capital across the entire XRP economy.
What happened?
The wallet activated in February 2013 by a user named Fuzzybear put up an order to trade 1 XRP for 1 Bitcoin. The order was never filled, as the market rate valued Bitcoin significantly higher than a single XRP.
This early ledger anecdote became a piece of crypto folklore in the XRP community, later inspiring community projects and the meme token FUZZ.
For further clarification, X user Fuzzybear confirmed he placed a sell order for 1 XRP for 1 BTC, but no one filled it, which is still visible on the chain. He stated he no longer had access to that XRP wallet, so even if it did fill, he could not collect it. At the time of writing, XRP was trading at $1.27, 0.0015766% of the current Bitcoin price of $80,554.
Even though the order of 1 XRP to 1 BTC was never filled, it remains etched in XRPL history.
The XRP Ledger itself drew inspiration from Bitcoin: the trio of XRPL engineers David Schwartz, Jed McCaleb, and Arthur Britto, who were fascinated by Bitcoin, set out to create a better version that improved upon its limitations to create a digital asset that was more sustainable and built specifically for payments.