Manually redrawn magazine covers, one-on-one trading cards, and the ever-evolving culture of Bitcoin collecting.

Pepenardo transformed the six issues of Bitcoin Magazine from 2036 into original art pieces, directly using Sharpie to paint on the covers. These hand-drawn versions feature familiar characters from his visual universe, including “Sleeping Knights”, which had previously been exhibited in BMAG Museum in Nashville and Bitcoin in Las Vegas in 2026. Other images include the masked rider from FAKEGENESIS, as well as Dorian Nakamoto, Pepe, the, and Frog.

Each magazine’s cover illustration is signed by the artist, and the inner pages feature another golden ink signature that reproduces his artwork “THE DREAMER”. Each magazine also comes with two original one-to-one trading cards created for this collaboration.

This project reflects the growing interest in art, publishing, and collectibles of BTC Inc. It is also built upon the MEMETIKRON exhibition that Pepenardo held at Bitcoin in 2026. At that time, " THE DREAMER ( RED KNIGHT )" and " THE DREAMLESS ( GREEN KNIGHT )" became the highlights of the BMAG auction.

Both oil paintings measure 30 × 39.5 inches and depict knights lying at an angle, clad in red and green armor, drawing inspiration from financial market imagery as well as historical portraits. Both works were ultimately sold for $0.32698802 BTC (approximately $26,500) each, attracting a total of 197 bids. Today, these images appear on trading cards created by the artist, which feature different color combinations, recombined compositions, and hand-drawn versions Creator Rare inspired by traditional textiles.

Against the backdrop of the booming trading card market, the works of Pepenardo have connected painting with collectibles that can be held in the hand, and scarcity, origin, and differentiation together shape their value. His relationship with this market began long before Sleeping Knights.

In 2023, his artwork FAKEGENESIS was sold at Bitcoin Conference in Miami for 1.625 BTC. This piece reinterprets Jacques-Louis David's "Napoleon Crossing the Alps," featuring a masked rider on a green horse. It was originally created in 2022 as a Fake Rares card and later became an early symbol of Bitcoin physical art, reflecting collectors' growing interest in artworks derived from Bitcoin meme culture.

FAKEGENESIS later appeared on the back cover of Bitcoin Magazine, and a printed version could be purchased through the magazine's store. Now it has returned in the form of a hand-drawn magazine cover, completing an unusual evolution: from a trading card to a painting, then to a printed replica, and finally back to an original collectible.

Bitcoin Magazine itself also has a collection history that can be traced back to its inaugural issue in May 2012, which was co-founded by Mihai Alisie and Vitalik Buterin. In September 2012, at a Bitcoin event in London, the first issue of the magazine, consisting of 7 copies, was signed by more than 20 early Bitcoin figures. One of these copies was sold for 7 BTC, but the buyer ultimately did not complete the purchase nor collect the magazine.

Since then, early publications have become highly sought-after historical collectibles, with rated editions and rare versions attracting collectors. In 2023, Bitcoin Magazine launched Genesis Box, a limited-edition collection set consisting of 21 sets, each containing the first 22 issues of the publication, with each issue packaged in a protective acrylic box.

Similar to early exhibition catalogs, first-edition books, and concert posters, “Bitcoin Magazine” has developed additional value beyond its original publishing function. The custom cover of “Pepenardo” continues this tradition, turning the publication itself into a one-of-a-kind work of art.

I interviewed Pepenardo regarding his paintings, trading cards, and his constantly changing relationship with “Bitcoin Magazine”, as well as Mark Mason, the person in charge of the media for “Bitcoin Magazine”, to understand the historical significance of this publication and its growing collection market.

BMAG:This collaboration was quickly facilitated after you noticed a blank space on the cover of the issue of Bitcoin Magazine that featured your work. What inspired you to turn these magazines into original art pieces? How do you view the relationship between them, painting, and trading cards?

Pepenardo:I couldn’t help but notice the blank space on the cover that seemed to invite for some art. It was clearly a perfect spot for drawing. Coincidentally, my initial exposure to Bitcoin came from observing the hype surrounding the trading cards on Counterparty, from 2016 all the way to today. Hal Finney hinted at this spirit in his famous 1993 email “Crypto trading cards”. Of course, he was talking about digital collectibles, but the principle is the same. Bitcoin’s history has a kind of magnetic pull towards collectibles; people want to hold onto a small part of this important piece of modern history. When we look back in 50 years, the content and physical remnants produced by this movement will help future generations understand Bitcoin’s long and significant timeline.

BMAG:These two knights, THE DREAMER and THE DREAMLESS, were originally oil paintings that were exhibited and sold at the Bitcoin in Las Vegas in 2026. Later, they appeared in Bitcoin Magazine, and now they are presented in the form of original trading cards in different variations. How has the meaning of these characters changed as they have transitioned between paintings, publications, and collectible cards? What rules have you established for these remix versions? Were you surprised by how quickly they sold out?

Pepenardo:I’m absolutely shocked that they sold so quickly. I’m at a loss for words. But this indeed confirms that what I’ve been trying to build and create through my work is valuable. The ability to remix the original works using trading cards has also enriched the life of each painting. The media is different—painting is on canvas with oil paints, while trading cards use various printing methods—but the meticulous care put into both is the same.

BMAG:FAKEGENESIS has become a landmark piece in your career. It evolved from Fake Rares into an original painting and attracted a great deal of attention at the 2023 Bitcoin in Miami in 2023. Looking back, do you still remember that moment? How did it change your approach to creation and the audience for your work?

Pepenardo:FAKEGENESIS will always be that pivotal work; it taught me how to approach art correctly. I realized this even before it was sold. It’s a piece that incorporates various themes from the Bitcoin spirit without being too overt about it. Art in the context of Bitcoin doesn’t have to shove a big “B” in your face; it should make you feel a passionate emotion, as if you’re standing at the scene of a new history being created. My hope is that it will be remembered as a work representing the entire movement – moving forward, rising higher.

BMAG:The earliest issues of “Bitcoin Magazine” have now also become historical artifacts, ranging from the signed editions and rated versions of the inaugural issue to the collection sets of “Genesis Box”. Even celebrities like “Michael Saylor” would sign on covers featuring their own images, which were then used in charity auctions. What is it that endows these publications with lasting collectible value? How do you view the role of artist-customized covers, such as those from “Pepenardo”, in this historical context?

Mark Mason:For over a decade, Bitcoin Magazine has been documenting the evolution of Bitcoin, from its early technological development to the community and culture that have emerged around it. We regard each issue of the physical magazine as a time capsule, capturing a specific moment in Bitcoin's journey towards hyperbitcoinization.

One of the biggest factors that drives their collectible value is that we never reprint past issues. The print run for each issue is limited, and this limited supply has made earlier versions, special editions with ratings, and issues with signed covers increasingly sought after by collectors.

Bitcoin has always existed at the intersection of technology, economics, and culture. Artists like Pepenardo who customize covers take this relationship a step further, turning a publication that inherently possesses collectible value into original works of art. This is what Bitcoin Magazine has evolved into: it serves both as a record of Bitcoin's history and as a physical representation of that history itself.

The custom magazine covers and trading card sets for Pepenardo were sold out shortly after their release, with all six one-to-one versions being purchased by collectors. There are still some other works available for purchase, including MASTER CUTS OUT THE STONE ( after Hemessen ), which are the core artworks of the MEMETIKRON exhibition for Pepenardo. These artworks have been displayed from BMAG Museum in Nashville to Bitcoin in Las Vegas in 2026.

Collectors can also view the prints of FAKEGENESIS, as well as the Genesis Box – a limited edition collection set that preserves the first 22 issues of this publication from 2012 to 2014.

Bitcoin Museum and Art Gallery (in collaboration with BMAG) organize international exhibitions, auctions, and artist collaborations to explore Bitcoin and its cultural impact. You can also browse the artworks for sale in the exhibition " Paper Money " at Curtis William Readel, as well as more prints, original artworks, and collectibles.

BMAG will return to Bitcoin Amsterdam from November 4th to 6th, 2026, during which time European artists will create works centered around money, power, and Bitcoin. For more information, please refer to The Architecture, of, Money, and The Undercurrent. Using the code BA26-BMAG20 you can enjoy a discount on tickets.

Label

Bitcoin

Bitcoin magazine

BMAG

FAKEGENESIS

pepenardo

Now Accepting Bitcoin : Gyros, Cocas, and 219 Arizona Bitcoin Merchants

The Architecture of Money : Mapping Financial Power in the Age of Bitcoin

BFFS26 Denver : Joseph Kelly on Bitcoin Custody and Credit ; Alan Lane on Banking Lessons

Blockchain Association Presses Congress on Crypto Taxes as Clarity Act Stalls

China Moves to Confiscate $5 Billion in Bitcoin From Fraudster Who Fled to UK : Report

Utexo Opens Utexo Mint Early Access for USDT on Bitcoin Ahead of November 28 Launch