Bitcoin Sign from Janet Yellen’s 2017 Congressional Hearing Sells for $1M

  • Christian Langalis had managed to get a seat behind Janet Yellen at a July 2017 hearing.
  • Langalis stands to gain almost $875,000, or 13.6 BTC after platform fee deduction.

At auction, a yellow notebook with the words “Buy Bitcoin” sold for sixteen Bitcoin, or more than one million dollars. This notepad was displayed behind then-United States Federal Reserve Chair Janet Yellen at a congressional hearing in 2017.

The successful bidder on the Bitcoin auction platform Scarce City went by the username “Justin” (often spelled “Squirrekkywrath”). The auction concluded on April 24, following a week-long run. Christian Langalis, who managed to get a seat behind Janet Yellen at a July 2017 televised House Financial Services Committee hearing, put up the sign. He scribbled it down and flashed it to the camera.

Substantial Profit

Since placards are not permitted to be exhibited during hearings, Langalis was led out after photobombing Yellen. Bitcoin’s price surged 3.7%, topping $2,418 after the sign was shown, according to CNBC’s reporting at the time.

Langalis stands to gain almost $875,000, or 13.6 BTC, when Scarce City deducts its 15% fee. The paper with the scribbled sign “was removed from the notepad shortly after the hearing,” according to the description, but it has subsequently been “reattached with clear archival wire.”

With an average selling price of 0.8 BTC (equivalent to around $51,300 now) in 2019, Langalis produced and sold 21 copies of the sign. The listing states that the replicas may be seen at the offices of the crypto think tank Coin Center, as well as the investment companies Paradigm, Blockchain Capital, and Castle Island Ventures. According to Bloomberg, Langalis intended to contribute to a Bitcoin software project with the proceeds from the most recent sale.

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