Key Takeaways
A scheduled altercation over the weekend featuring cryptocurrency influencer Ben “BitBoy” Armstrong and memecoin creator “More Light” appeared to be more than just a chaotic exchange of punches and kicks.
The memecoins linked to them — Ben (BEN) and HarryPotterObamaSonic10Inu (BITCOIN) — also experienced significant volatility before and after the event.
The duo faced off in a fight organized by the combat sports company Karate Combat, in Mexico on February 24.
In a conversation with Cointelegraph, More Light, BITCOIN’s pseudonymous developer said he decided to participate in the fight about four weeks prior to the event.
He explained that he had casually mentioned to the organizer at Karate Combat that if BitBoy’s opponent were unable to compete, he would step in. More Light added that he only became aware of the fight four to five weeks before it took place and had been spending his time relaxing rather than training.
He said:
“I had to get my ass in gear fast.”
More Light expressed surprise at Armstrong‘s high level of energy during the fight. He highlighted his opponents unexpected aggressive expressions and powerful swings. Data from the decentralized betting app Polymarkets before the fight showed More Light as the favored contender, with 62% of wagers backing the memecoin developer.
Nevertheless, Armstrong secured a victory, emerging as the winner by unanimous decision following three rounds of two-minute bouts.
After Armstrong’s victory, the value of $BITCOIN experienced a sharp decline, dropping more than 20% within four hours from $0.052 to $0.040. However, the token has since made a comeback, now trading at approximately $0.056, marking a 40% increase since the fight concluded.
Conversely, BEN, a memecoin associated with Armstrong, saw an impressive 87% increase in its price following Armstrong’s win, jumping from $0.000004 to $0.0000075 within six hours. The price has since adjusted to about $0.000005, according to data from Dex Screener.
More Light emphasized the absence of any real-life animosity between him and Armstrong. He went on to acknowledge Armstrong as a “good guy” off the battlefield.
HarryPotterObamaSonic10Inu , MoreLight’s memecoin, was created as a humorous take on the largest cryptocurrency, Bitcoin, adopting the digital currency’s complete name as its ticker symbol.
The bout garnered a mix of reactions from the cryptocurrency community. Industry experts displayed a range of emotions from entertainment to disapproval.
Pseudonymous Helius developer Mert wrote :
“What circle of hell is this and why am I watching it.”
At the same time, some resisted offering any accolades to Armstrong.
TheFlowHorse, a trader, expressed skepticism about granting Armstrong respect merely for securing a win in a karate competition.