Interrupted Bitcoin Signal Auctioned Off for a Hefty $1 Million: Janet Yellen

An item with the words "Buy Bitcoin" printed on it went for sixteen Bitcoin, which is more than one million dollars

A Bitcoin software project will be funded by the sale of the notepad, which was shown at a 2017 congressional hearing.

An item that went viral at a 2017 US congressional hearing—a notepad that said "Buy Bitcoin"—has now been put up for auction for a staggering 16 Bitcoin (BTC). More than one million dollars is at stake here.

On the Scarce City Bitcoin auction site, the buyer who goes by the names "Justin" or "Squirrekkywrath" came out on top. The auction ended on April 24, just after 11:00 pm UTC, following a week-long run.

A Record of Notepad's Past

Presenting the notebook was Christian Langalis, who had snagged a seat behind then-US Federal Reserve chair Janet Yellen during a July 2017 House Financial Services Committee hearing that was broadcast on television. Langalis proceeded to jot down the message on the notepad before showing it off to the camera.

It is unlawful to display signs during hearings, thus Langalis was requested to vacate the premises. The value of Bitcoin increased by 3.7%, passing $2,418, after the notepad's publication.

With the 15% fee from the auction site subtracted, Langalis should collect around $875,000, or 13.6 BTC. Returning the item to the Bitcoin community was something that Langalis was happy to do.

Along with notes on Bitcoin and the hearing's monetary policy, the auctioned notebook also included an unseen draft of the now-famous statement. The transaction included this draft.

Langalis made and sold 21 signs in 2019, with an average price of 0.8 BTC (equivalent to around $51,300 in today's dollars). Rumor has it that the offices of crypto think tank Coin Center, venture capital companies Paradigm and Blockchain Capital, and venture capital company Castle Island Ventures all have these replicas on display.

The proceeds from this latest sale will go toward Langalis's Bitcoin software project.

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