Buy Bitcoin" Notepad from 2017 Congressional Hearing Auctioned for Over $1 Million
Summary:
A yellow notepad featuring the phrase "Buy Bitcoin", famously displayed during a 2017 Congressional hearing behind former US Federal Reserve chair Janet Yellen, was auctioned off for 16 Bitcoin (over $1 million). The successful bidder purchased the item on the Bitcoin auction platform, Scarce City. After the platform's 15% fee, the original owner, Christian Langalis, is set to earn around $875,000. Langalis, who created the sign, plans to use the earnings to fund a Bitcoin software project.
In a recent auction, a yellow notepad displaying the phrase "Buy Bitcoin", which garnered fame during a 2017 Congressional hearing behind former United States Federal Reserve chair Janet Yellen, was sold for 16 Bitcoin (BTC) — an amount over $1 million. The successful bidder, recognized under the aliases "Justin" or "Squirrekkywrath," purchased the item on the Bitcoin auction platform, Scarce City. The week-long auction concluded on April 24, right after 11:00 pm UTC.
Christian Langalis, the individual who popularized the sign by flashing it on camera from a fortunate seat behind Yellen during a broadcasted House Financial Services Committee hearing in July 2017, put the item up for auction. Langalis was later removed from the hearing due to the nonpermitted display of signs.
CNBC highlighted that following the appearance of the sign, Bitcoin's value increased by 3.7%, exceeding $2,418. After Scarce City deducts its 15% fee, Langalis is expected to earn around $875,000 or 13.6 BTC.
Langalis expressed a feeling of liberation in offering the famous sign back to the Bitcoin community, as stated in the listing text. He mentioned it had been stored away in his sock drawer until now. The listing specified that the sheet with the handwritten sign was "taken out right after the hearing" but has since been "reattached with clear archival wire."
Along with the recognized sign, the yellow note-pad also comprises an "unseen preliminary draft" and hearing notes concerning the monetary policy and Bitcoin. This draft version of the sign, penned by Langalis, was part of the auctioned item. In 2019, he created and sold 21 imitations of the sign at an average cost of 0.8 BTC, which is approximately $51,300 in today's conversion.
According to the listing, replicas of the sign are exhibited at venture companies including Paradigm, Blockchain Capital, and Castle Island Ventures, as well as the cryptocurrency think-tank Coin Center. Langalis has disclosed plans to use the earnings from this recent sale to fund a Bitcoin software project, as reported by Bloomberg.
Published At
4/25/2024 8:50:10 AM
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