In a remarkable turn of events, a simple message displayed behind former Federal Reserve Chair Janet Yellen during a congressional testimony nearly seven years ago has sparked a frenzy in the Bitcoin community. The phrase “Buy Bitcoin” scribbled on a legal pad by Christian Langalis, a 22-year-old Bitcoin enthusiast at the time, has now become a sought-after artifact, fetching bids nearing $166,000 in an online auction.
The Backstory
Langalis, an intern at the libertarian think tank Cato Institute back in 2017, saw an opportunity during Yellen’s appearance before the House Financial Services Committee. Quickly jotting down the now-famous phrase, he positioned himself behind Yellen and showed his pad to the camera, sparking both controversy and admiration.
The Auction Frenzy
The bidding war for the drawing, described as an “Ink Drawing on Legal Pad,” has been ongoing, with bids rapidly approaching the $166,000 mark.
“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 description said. Christian Langalis, reflecting on the significance of the message, stated:
“Bitcoin was massively rupturing into the halls of institutional finance in 2017. Any Bitcoiner worth their sats would have told you so […] The message was subversive then, but now merely obvious: Bitcoin is flowing. Control is dead.”
Christian Langalis Talks About Implications of the Sign
The message, though perceived as subversive at the time, now appears prescient in light of Bitcoin’s increasing acceptance in institutional circles. With established financial institutions like BlackRock and Fidelity embracing Bitcoin, Langalis aims to capitalize on the current momentum that has seen Bitcoin soar to record highs.
Reflecting on his decision to auction the sign, Langalis mentioned:
“It’s good to finally liberate this number from my sock drawer and offer it back to the Bitcoin public.”
He hopes that the proceeds from the auction will support his Bitcoin software work and benefit his family.
The Significance of the Auction
Langalis’s journey with the “Buy Bitcoin” sign has been eventful. In 2019, he sold 21 replica editions of the sign, each fetching an average of 0.8 bitcoin. The replicas, meticulously crafted “by hand by me,” as he said, were well-received by the Bitcoin community.
The auction listing describes the sign as one of the few widely-recognized physical Bitcoin artifacts, given Bitcoin’s virtual nature. Its significance lies not only in its historical context but also in its representation of Bitcoin’s journey into mainstream consciousness.
Conclusion
As the auction draws to a close, the winner will be announced at a Bitcoin-themed eatery in New York City, where Langalis is currently employed. The sale of the Buy Bitcoin sign not only marks a milestone in Bitcoin’s history but also underscores the growing influence of digital assets in the financial world.
