New York City – A piece of notebook paper featuring the hand-drawn sign “Buy Bitcoin,” famously displayed behind former United States Federal Reserve Chair Janet Yellen in 2017, recently fetched a staggering 16 bitcoins, equivalent to approximately $1.027 million. The iconic paper was sold to the highest bidder, known as the pseudonymous “Squirrekkywrath,” following a week-long auction at the Pubkey Bar in New York.
The original creator of the sign, Christian Langalis, also known as the “Bitcoin Sign Guy,” organized the auction on the Scarce City platform and made an appearance at the event. Described as a hastily drawn symbol on a yellow legal pad, the “Buy Bitcoin” sign symbolized Bitcoin’s emergence in the global financial landscape, becoming one of the few physical relics associated with the digital currency due to its intangible nature.
Langalis, then a 22-year-old intern at the Cato Institute, gained attention when he held up the sign during Yellen’s televised address at the House Financial Services Committee hearing in July 2017. Despite being removed from the hearing room after the incident, the price of Bitcoin surged by 3.7% during the broadcast, according to reports.
The value of Bitcoin has seen significant growth since that incident, climbing from around $2,700 in July 2017 to a peak exceeding $73,000 last month. This surge was largely attributed to crucial decisions by U.S. regulators allowing the launch of spot Bitcoin exchange-traded funds, fueling interest and investment in the cryptocurrency market.
The auctioned notepad not only features Langalis’ original drawings and notes from that historic day but also serves as a tangible reminder of Bitcoin’s disruptive impact on the traditional financial system. The sale of the paper underscores the enduring significance of Bitcoin in the modern financial landscape and highlights the growing influence of digital currencies in the mainstream market.
As the interest in cryptocurrencies continues to rise and regulations evolve, the sale of the “Buy Bitcoin” sign represents a milestone in the history of Bitcoin, showcasing its journey from a fringe technology to a mainstream financial asset. With Bitcoin’s ongoing growth and adoption, the significance of physical artifacts like the hand-drawn sign only continues to grow, serving as a testament to the enduring legacy of the digital currency.