The iconic yellow notepad reading “Buy Bitcoin,” which became famous during a US Congressional hearing in 2017, has been sold for 16 BTC. This equates to a value of approximately $1,016,778 based on the current Bitcoin price.
The story behind the sign
In July 2017, Christian Langalis, known as the “Bitcoin Sign Guy,” held up the yellow notepad behind Janet Yellen during a live broadcast hearing of the House Financial Services Committee. Yellen, then chairman of the Federal Reserve, was speaking at the time. This action led to an immediate 3.7% increase in Bitcoin prices.
Langalis was removed from the room after his act because showing signs during such hearings is prohibited. However, his short but powerful message became a symbol in the Bitcoin community.
The auction
The auction took place on the Scarce City platform, where a user named ‘Squirrekkywrath’ placed the highest bid. In addition to the famous message, the original notebook also contained drafts and notes on monetary policy and Bitcoin taken by Langalis during the hearing.
The auction platform withholds 15% of the total amount, which means Langalis receives 13.6 BTC. Although this is less than the original amount of 16 BTC, it is still a significant amount.
What happens to the proceeds?
Langalis plans to invest the money in his startup, Tirrel Corp. This company is working on a Bitcoin Lightning network wallet on Urbit. The proceeds from the auction demonstrate how a single moment of publicity can have a lasting impact and even lead to new technological developments in the world of crypto.
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