“Buy Bitcoin” Sign Linked To Treasury Sec Janet Yellen Listed For Auction

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A report from Bloomberg states that bids have been placed in an online auction for the “Buy Bitcoin” sign previously held up by Christian Langalis a few years ago.

Langalis Wants More Monetary Gains For Heroic Effort

To date, potential buyers have made offers worth a total of $140,000 for the item during the auction. This is a substantial jump from its initial estimated value by Langalis. The bidding process continues and prospective bidders can submit their offers before the deadline on Wednesday.

Significant note, this isn’t the initial proposal he received for selling his ‘doodle’ at a higher price. In fact, he’s previously made around 21 sales of replicas, fetching approximately 0.8 Bitcoins per piece on average.

The 22-year-old man seems to be taking advantage of the increased attention towards Bitcoin following the introduction of spot Bitcoin ETFs by major investment firms such as BlackRock and Fidelity Investments.

He might be aiming to profit from the surge that pushed Bitcoin’s price past its previous record high of over $73,000, currently priced at $66,509.23. Despite a 3.19% rise, the market mood is significantly calmer compared to the heights Bitcoin reached in March.

The “Buy Bitcoin” Sign and Implications

Approximately 7 years ago, Langalis appeared before the House Financial Services Committee during a Congressional hearing. He sat next to Janet Yellen, who served as both the Treasury Secretary and the Federal Reserve Chair at that time.

During Yellen’s speech, a young man conspicuously displayed a notepad from the sidelines. To onlookers, this gesture symbolized encouragement for Bitcoin advocates.

After being filmed allegedly breaking rules, Langalis was promptly asked to leave the premises. Shortly following this event, he unexpectedly received approximately 7 Bitcoins in donations from the cryptocurrency community as a sign of support.

In 2019, an occasion transpired with Bitcoin priced around $2,300. Since then, its value has significantly improved. Although there’s no evidence that he still possesses the 7 Bitcoins given to him, their current worth would amount to approximately $465,563.

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2024-04-23 00:01