I assume it's tied somehow to SMS character limits, where somebody decided a couple extra letters of content was worth it somehow.
However you slice it, even after we conquer character limits and font rendering and storage space for every electronic device, human beings will still be using "the analog hole" to copy code like that.
SMS is a single packet over GSM with maximum payload size of 140 bytes.
it might make sense if you're on a plan where an MMS costs less than 2xSMS