$1.027 million...or about 16 bitcoin.
That’s what the infamous ‘Buy Bitcoin’ scribble drawing on a yellow legal pad, once held up at a televised Congressional testimony behind Federal Reserve Chair Janet Yellen, just sold for at auction, according to Bloomberg.
The report notes that the sign quickly became iconic in the crypto community, symbolizing the industry’s revival. Bitcoin’s price soared from about $2,300 to a peak of nearly $74,000 in March, boosted by major financial firms like Fidelity and BlackRock.
As retail interest came around, early Bitcoin memorabilia like the pad regained popularity. NFTs…well, not so much.
An anonymous buyer secured the item with a bid of 16 Bitcoin on the auction site Scare City, the report notes, although a temporary glitch suggested a mistaken bid of $6.4 million before correction.
Give them a break. After all, not everyone is on the bitcoin to USD conversion standard just yet…
But if the price of the pad is any indicator, interest in the crypto remains hot.
“The page with the sign drawing was removed from the notepad shortly after the hearing. It has since been reattached with clear archival wire,” the item’s description read at the auction.
Christian Langalis, a 22-year-old intern at the Cato Institute, created the sign during a 2017 House Financial Service Committee hearing featuring Janet Yellen. After being televised, Langalis was escorted out. The auctioned item, described as “Ink Drawing on Legal Pad,” also includes his notes from the session.
Tyler Durden
Thu, 04/25/2024 – 12:05
