“Iconic “Buy Bitcoin” Sign Sells for $1.027 Million in Bitcoin Auction”
The iconic “Buy Bitcoin” sign that made headlines during a broadcast featuring former Federal Reserve Chair Janet Yellen in 2017 has been sold for a whopping 16 BTC, equivalent to approximately $1.027 million. The auction, held at the Bitcoin-themed bar PubKey in New York City, was organized by the auction house Scarce.City.
The highest bidder, known only as “Squirrekkywrath,” won the sign in a week-long auction organized by Christian Langalis, also known as the “Bitcoin Sign Guy.” Langalis, who was just a 22-year-old intern at the Cato Institute at the time of the famous incident, is expected to receive approximately $875,000 after Scarce.City’s fee deduction.
The notepad featuring the iconic phrase also includes Langalis’ original notes and sketches from that historic day. Langalis has used the funds raised from the auction to support his new venture, Tirrel Corp, which focuses on creating a Bitcoin Lightning network wallet on Urbit.
In addition to the original sign, Langalis also created and sold 21 replicas of the “Buy Bitcoin” sign in 2019, fetching an average price of 0.8 BTC each. These replicas are now proudly displayed in the offices of various venture firms and crypto think-tanks.
The image of the “Buy Bitcoin” sign quickly spread across the internet after Langalis held it up during a House Financial Services hearing in 2017, leading to a 3.7% surge in bitcoin’s price at the time. Since then, bitcoin’s value has skyrocketed, reaching a peak of over $73,000 last month.
The sale of the iconic sign for over $1 million is a testament to the growing popularity and value of Bitcoin in the global financial landscape.
