A 'Buy Bitcoin' sign held up during Yellen's 2017 speech sold for $1 million

Christian Langalis is expected to receive approximately $875,000, equivalent to 13.6 Bitcoins, after deducting a 15% fee from Scarce.City.

A piece of paper with the words "Buy Bitcoin" printed on it appeared as the background of a public speech by U.S. Federal Reserve Chairman Janet Yellen in 2017, and the image is widely known. The notebook paper was recently sold for 16 Bitcoins, which is approximately $1.027 million.

The auction was held at PubKey, a Bitcoin-themed bar in New York City, and was organized and facilitated by auction house Scarce.City.

Iconic “Buy Bitcoin” sign sold at auction

The highest bidder, who goes by the pseudonym "Squirrekkywrath," won the "Buy Bitcoin" sign during the week-long auction. The auction was organized by Christian Langalis, known as the “Bitcoin Sign Guy” who not only posted the sign on the auction platform Scarce.City but also attended the auction event in person. .

Scarce.City noted that the transaction set a record for the platform. After deducting Scarce City’s 15% fee, Langalis is expected to receive approximately $875,000, equivalent to approximately 13.6 Bitcoins.

The iconic "Buy Bitcoin" logo written on a yellow legal notebook symbolizes the rise of Bitcoin in the global financial sector. Given that Bitcoin is primarily digital, this physical artifact is one of the few widely recognized symbols of Bitcoin. The notebook included in the sale also includes Langalis’ original notes and sketches of the logo from that historic day.

At the time of the famous incident, Langalis was reportedly a 22-year-old intern at the Cato Institute. Funds raised from the auction will support Langalis’ new venture, Tirrel Corp, which is focused on creating a Bitcoin Lightning Network wallet on Urbit.

During that famous incident, Langalis was said to be a 22-year-old intern at the Cato Institute. Funds from the auction will be used to support Langalis’ new venture, Tirrel Corp, which is focused on creating a Bitcoin Lightning Network wallet on Urbit. .

Replicas of the "Buy Bitcoin" logo sold for 0.8 Bitcoin each

In 2019, Langalis created and sold 21 replicas of the iconic “Buy Bitcoin” logo, with an average price of 0.8 Bitcoin each. At today's value, that's about $51,300 each.

According to the listing, the replicas are proudly displayed in the offices of venture capital firms including Paradigm, Blockchain Capital, Castle Island Ventures, and cryptocurrency think tank Coin Center.

During a 2017 House Financial Services Committee hearing, Langalis was removed from the building for violating committee rules after holding up the sign. However, images of the logo quickly spread across the internet. Following the incident, the price of Bitcoin surged 3.7% at the time of the broadcast.

Since then, Bitcoin has experienced explosive growth in value, soaring from around $2,700 in July 2017 to a high of over $73,000 in the middle of last month. This significant growth is partly due to major regulatory decisions in the United States, such as the approval of the launch of a spot Bitcoin exchange-traded fund (ETF) earlier this year.

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