Approximately 7 years after the fact, Christian Langalis – the individual famously seen holding up a “Buy Bitcoin” sign on live television, scribbled on a yellow notepad – has since then parted with this iconic item via an online auction.
During a 2017 Congressional hearing, 22-year-old intern Langalis had the opportunity to be present when then-Chair of the United States Federal Reserve, Janet Yellen, testified. However, his brief appearance caused quite a stir, particularly amongst crypto enthusiasts, after an incident led to him being forcibly removed from the venue right away.
Based on Scarce City’s Bitcoin auction platform report, the sign has been purchased by the top bidder for 16 Bitcoins, which is equivalent to approximately $1.027 million.
After a week-long auction that concluded around 11:00 pm UTC on April 24, Justin, also known as Squirrekkywrath, claimed his winnings and went home with the prize.
“Congratulations to Justin, also known as Squirrekkywrath, who triumphantly secured the #BitcoinSignGuy auction and received 16 bits of Bitcoin (BTC) as his prize. Bravo, @tpacchia! Let’s celebrate this victory with a ‘Whale’ of a celebration!”
— PUBKEY (@PubKey_NYC) April 24, 2024
At the same time, Scarce City will receive a 15% reduction in the sale price for acting as the intermediary. As a result, Langalis will pocket around 13.6 BTC ($874,000) from the transaction.
In the past, Langalis has made money from selling yellow pad sign replicas. Back in 2019, he produced and sold at least 21 copies of that sign for an average price of 0.8 Bitcoin. With today’s values, each sold copy is now equivalent to $51,420.
During that period, he managed to offload his shares to various venture capital firms such as Paradigm, Blockchain Capital, and Castle Island Ventures. Additionally, Coin Center, a renowned crypto research organization, was among the purchasers.
The Iconic Buy Bitcoin Sign
Based on the item’s specifications, it is a half-pound ink drawing created on a standard legal pad. This legal pad includes jottings made by Langalis during the significant court hearing.
After the hearing, the page featuring a drawing of a sign was taken out of the notepad. Later on, it was put back in place using transparent archival wire.
Using the money from his recent sale, Langalis intends to invest in launching Tirrel Corp. This new business is reportedly developing a Bitcoin Lightning network wallet and associated technology.
The price of Bitcoin has dramatically increased from approximately $2,300 in 2017 to an all-time high of nearly $74,000 in March 2024. This surge can be attributed to the entry of institutional investors like Fidelity and BlackRock into the market, who have publicly endorsed the cryptocurrency.
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2024-04-25 11:24