Read time: ≈ 14 min • Last updated: November 25 2025
I minted a Bitcoin Rune for $12 and flipped it for 0.065 BTC within 48 hours. Raw receipts, UTXO split, Ledger set-up, miner fees, and the 2025 tax curve-ball.
No theory—just raw receipts, UTXO split screenshots, and the exact CLI command I copy-pasted at 2 a.m.
Why I tried Runes in 2025
Bitcoin Runes went live in April 2025. By November, 30-day volume on Magic Eden alone hit 1 247 BTC. I had 0.08 BTC sitting in a Ledger—same UTXOs, new fungible standard, extra upside. Sounds free, right? Read on.
- No bridge risk (native Bitcoin chain)
- Live secondary market (Magic Eden BTC)
- Miner-fee only (no smart-contract risk)
If you mess up the UTXO split, you can lose sats to miner fees. I lost 0.0004 BTC learning—cheaper than a course.
Setup: Ledger + Leather in 10 min
Wallet: Leather (connects to Ledger)
Marketplace: Magic Eden BTC
Chain: Bitcoin mainnet (no bridge)
- Update Ledger firmware to ≥ 2.2.1 (Runes support).
- Install Leather browser extension → connect Ledger.
- Visit magiceden.io → switch network to “Bitcoin”.
Minting: $12 raw cost breakdown
I chose “ZK•CAT” because cats > dogs. Mint cost was 0.00028 BTC ($12.4 at the time).
| Item | Amount (BTC) | USD ($) |
|---|---|---|
| Mint fee (protocol) | 0.00020 | 8.90 |
| Miner fee (mint tx) | 0.00006 | 2.67 |
| Leather service fee | 0.00002 | 0.89 |
| Total | 0.00028 | 12.46 |
Tip: mint during the week-end (lower hash-rate) = 15 % cheaper fees.
48-hour flip: 0.065 BTC sale
Listed at 0.07 BTC → sold at 0.065 BTC after 36 h.
Net gain: 0.065 - 0.00028 = 0.04972 BTC (≈ $5 800)
I accepted the lower offer because volume was dropping—better to take profit than to HODL a cat picture.
UTXO split & miner-fee log
I split my 0.08 BTC into 0.00028 + 0.07972 to avoid accidental spend of the mint UTXO:
- Ledger Live → send exact 0.00028 BTC to a new address (mint UTXO).
- Leave 0.07972 BTC in the main account (spendable).
- Connect Leather → mint uses the 0.00028 UTXO only.
If you spend the mint UTXO by mistake, you lose the Rune. Always split exact amounts.
EU 2025 tax surprise (Runes = collectibles)
Netherlands treats Runes as “digital collectibles” → capital-gains at 31 % (same as NFTs). I declared the sale:
- Export CSV from Leather → import to Koinly.
- Gain = 0.04972 BTC × €58 000 spot = €2 884.
- Tax due: €893 (31 %). I set aside €900 in USDC immediately.
Keep miner-fee receipts – they are deductible as “acquisition cost”.
Download my UTXO cheat-sheet
Open Sheet Download PDFAuto-calculates split amounts, miner-fee estimates, and tax set-aside.
Frequently Asked Questions
Yes, treated as digital collectibles. Declare gains and pay capital-gains tax.
Yes, if you spend the UTXO that holds the Rune. Always split exact amounts.
Ledger + Leather = safest. Keep firmware updated.
Hold or burn. There’s no liquidity guarantee—only mint what you can afford to lose.
I am not a financial advisor. Runes involve miner-fee risk and no liquidity guarantee. Only mint what you can afford to lose.