The 'Buy Bitcoin' sign, famously displayed behind former U.S. Treasury Secretary Janet Yellen during her Congressional testimony in July 2017, has been sold for a whopping 16 BTC, equivalent to just over $1 million. The transaction marks a record sale for Scarce.City, the auction house responsible for the deal.
The auction took place at PubKey, a Bitcoin-themed bar in New York City, adding to the cryptocurrency-flavored event. The sign’s new owner is a mysterious figure known only by the alias Squirrekkywrath, as revealed in a tweet by PubKey. Little is known about the buyer, but Alex Thorn, the head of research at Galaxy, described him as a “Bitcoin OG that no one has ever heard of.”
Christian Langalis, the man who gained internet fame by holding up the sign during the televised senator hearing, was subsequently removed from the venue for breaking committee rules. Despite this, the image quickly captured the attention of the online community and became a viral sensation. Langalis told CoinDesk in a previous interview that the proceeds from the auction would be used to fund his startup, Tirrel Corp. This venture is focused on developing a Bitcoin Lightning network wallet on the platform Urbit, potentially influencing future digital currency transactions.
This notable sale not only underscores the iconic status of the 'Buy Bitcoin' sign within the cryptocurrency community but also highlights the continued enthusiasm and investment within the sector, as seen in the high-profile acquisition and the sign’s storied journey from a Congressional hearing to a million-dollar auction item.
