An iconic piece of cryptocurrency history, the ‘Buy Bitcoin’ sign famously displayed during Janet Yellen’s Congressional testimony in 2017, has been sold at auction for a remarkable 16 BTC, equivalent to just over $1 million. This sale sets a new record for the auction platform Scarce.City.
A Historic Moment Captured
The sign gained notoriety when Christian Langalis, known within the cryptocurrency community, held it up behind the then-U.S. Treasury Secretary during her testimony. The image quickly went viral, symbolizing the crypto community’s challenge to traditional financial norms. Langalis was promptly escorted out of the hearing for violating committee rules, but the moment had already made its mark.
Auction Details and New Ownership
The auction house Scarce.City announced that this was the highest amount ever fetched on their platform. The winning bidder is an individual known by the pseudonym Squirrekkywrath, a figure described by Alex Thorn, head of research at Galaxy, as a “bitcoin OG that no one has ever heard of.”
Proceeds to Fuel Bitcoin Innovation
Christian Langalis, the original holder of the sign, has stated that the proceeds from the auction will fund his startup, Tirrel Corp. Tirrel Corp is focused on developing a Bitcoin Lightning network wallet on Urbit, aiming to enhance the scalability and usability of Bitcoin transactions.
