“Renowned as the ‘Bitcoin Sign Guy,’ Christian Langalis has opted to auction off the iconic piece of paper bearing the words ‘Buy Bitcoin,’ famously displayed behind Janet Yellen during a 2017 House Financial Services Committee hearing.
Formerly associated with the Cato Institute as an intern, Langalis has since shifted his focus to projects within the decentralized personal server platform Urbit. Reflecting on the significance of the sign, Langalis remarked, ‘When Bitcoin enthusiasts inquire about the sign, I often jest that they would have likely done the same if in my position.’
Reportedly, Langalis declined a private offer of five bitcoins, holding out for a potentially higher bid through auction. His decision has proven fruitful, culminating in a sale amounting to 16 BTC—surpassing a million dollars at the time of transaction and representing a staggering 220% increase compared to the initial private offer.
During the auction, a bidder mistakenly entered a bid of 100 BTC before swiftly rectifying the error to 10 BTC. The winning bidder, identified only by the username ‘Squirrekkywrath,’ secured ownership of the prized Bitcoin sign.
Described as a hastily penned note on yellow legal paper, the artifact holds distinction as one of the few widely-recognized physical remnants within the realm of Bitcoin’s predominantly virtual landscape. Notably, the auction house mandates a 1% bitcoin deposit from all bidders as collateral.
The sign, categorized as an ‘Ink Drawing on Legal Pad,’ offers the auction winner the choice of receiving a certificate of authenticity in various formats, including a traditional paper certificate or a digital bitcoin ordinal.
Previously, Langalis garnered nearly 17 bitcoins through the sale of replica editions in 2019. He intends to utilize the proceeds from the auction towards furthering his involvement in ongoing cryptocurrency initiatives.”