Community-initiated 'Bitcoin Stackchain' exceeds $160K in one week

cointelegraph.com:

The Bitcoin (BTC) community, or “plebs” as they are affectionately known, are a force to be reckoned with. They banded together in less than 7 days to stack over $160,000 (7 BTC) in a “stackchain.”

The so-called stackchain, a portmanteau of the blockchain (Bitcoin’s ledger) and stacking Sats (buying BTC), is a community-driven meme. The investment chain derived from one man’s desire to express the idea that buying Bitcoin every day and doing DCA (dollar-cost averaging) is essential to being a Bitcoiner.

ArizonanHodl, the Bitcoiner in question, told Cointelegraph contained that he would “eliminate any excuses" by posting a $5 purchase. Here is the original tweet:

Even on days when I’m broke as hell I still stack. Feel free to join me. pic.twitter.com/e8TRUXFxi6

Bitcoin buyers from around the world supported the gesture; they took the idea by the scruff of the neck and made it a movement. The community began stacking sats in increasing increments of $1 at a time. $5 became $6, $7, etc until the cumulative total passed the $100,000 mark over the July 23 weekend.

According to the stackchain’s official GitHub (because, of course, there is an official GitHub), Derek Ross explains that the stackchain is “just fun and shitposting with a little bit of Bitcoin lingo thrown in to make it more fun as we shitpost as we buy Bitcoin."

However, the "bit of fun" grew exponentially. While Arizonan had set a goal of $10,000 for the bear market tomfoolery, in a matter of days, the plebs had stacked a whole BTC ($22,000).

By Monday 25th July, the stackchain passed $150,000. Each “stack” is now well over half a grand. The incremental amounts will soon approach four-figure purchases, and the hype around the stack chain has caught the eye of