‘Buy Bitcoin’ sign from Janet Yellen’s 2017 speech sells for $1 million

In 2017, a note paper with the phrase “Buy Bitcoin,” which famously appeared in the background during a broadcast featuring then-US Federal Reserve (Fed) Chairman Janet Yellen, was sold for 16 BTC (approximately 1,027,000 BTC). It sold for the equivalent of $1,000.

Held at PubKey, a Bitcoin-themed bar in New York City, the auction was hosted and conducted by auction house Scarce.City.

Iconic “Buy Bitcoin” sign sold at auction

The highest bidder, known by the pseudonym “Squirrekkywrath,” acquired the sign during a week-long auction. The auction was hosted by Christian Langalis, also known as the “Bitcoin Sign Guy,” who posted on auction platform Scarce.City and attended the event in person.

Scarce.City noted that the deal sets a record amount for the platform. After deducting Scarce City’s 15% fee, Langalis is expected to receive approximately $875,000 (equivalent to 13.6 BTC).

This is the conclusion to one of the most iconic parts of Bitcoin history. 🏆🍾

We created our own little history. Check out the official new record https://t.co/rNz9DWL5WE. 🏅 pic.twitter.com/3ixQmEHbd0

— Scarce.City (@scarcedotcity) April 24, 2024

The iconic “Buy Bitcoin” sign on a yellow legal pad symbolizes Bitcoin’s emergence into the global financial landscape. This physical artifact is one of the few widely known symbols of Bitcoin, given its primarily digital nature. The auctioned notepad also included Langalis’ original notes and a sketch of the sign from the historic day.

At the time of the famous incident, Langalis was reportedly a 22-year-old intern at Kato Research Institute. Funds raised from the auction will support Langalis’ new venture, Tirrel Corp, which is focused on creating a Bitcoin Lightning Network wallet on Urbit.

“Buy Bitcoin” marked replicas sell for 0.8 BTC each

In 2019, Langalis created and sold 21 replicas of the iconic “Buy Bitcoin” sign, with an average price of 0.8 BTC each. They are currently valued at approximately $51,300 each.

According to the listing, these replicas are proudly displayed in the offices of venture firms such as Paradigm, Blockchain Capital, Castle Island Ventures, and cryptocurrency think tank Coin Center.

Langalis was escorted out of the building in 2017 for violating committee rules after holding a sign during a House financial services hearing. However, the image of the sign spread quickly through the Internet. After the event was broadcast, the price of Bitcoin soared 3.7%.

Since then, Bitcoin’s value has soared from around $2,700 in July 2017 to a record high of more than $73,000 last month. The increase is partly due to important regulatory decisions in the U.S., including allowing the launch of a spot Bitcoin exchange-traded fund earlier this year.