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The Significance of the ‘Buy Bitcoin’ Legal Notepad Auction
Back in 2017, during a televised House Financial Services Committee hearing, a young intern made a bold move that would later become iconic in the world of cryptocurrency. Christian Langalis, then a 22-year-old intern at the Cato Institute, held up a yellow legal notepad with the words ‘Buy Bitcoin’ scribbled on it. This simple act, now legendary, resulted in a 3.7% spike in the price of Bitcoin following the broadcast, as reported by CNBC.
The Journey of the Bitcoin Sign Guy
Seven years later, Christian Langalis, now known as the original “Bitcoin Sign Guy,” decided to auction off the very same yellow legal notepad. The auction took place on Scarce City, an online auction site, and after fierce bidding, the highest bidder, identified as Squirrekkywrath or Justin, purchased the iconic piece for 16 BTC, equivalent to a staggering $1.019 million.
In his artist statement on Scarce City, Langalis expressed his sentiment towards the sign, stating that it was time to release it back to the Bitcoin community. He plans to utilize the proceeds from the auction to fuel his startup, Tirrel Corp. The company is currently working on developing a Bitcoin Lightning Network wallet on the decentralized personal server platform, Urbit.
A Symbolic Gesture
Throughout the auction, the yellow legal notepad was displayed at the Pubkey Bar in New York City, a renowned Bitcoin dive bar. In the final moments of the auction, an event was held at the bar, where the iconic piece of crypto history was showcased on a spinning platform as the last bids were placed.
The host of the event at Pubkey Bar emphasized the profound impact of Langalis’ actions at the congressional hearing years ago. Comparing it to significant historical documents like the Magna Carta and the Declaration of Independence, the host acknowledged the pivotal moment that ‘Buy Bitcoin’ sign represented in the landscape of Bitcoin awareness.
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