A pivotal moment in Bitcoin’s history is on the verge of becoming an auctionable commodity. Christian Langalis, whose iconic “Buy Bitcoin” sign photobombed Janet Yellen’s Congressional testimony in 2017, is auctioning off the very sign he held up behind the then-Federal Reserve chair.
Langalis’s Intentions with the Auction
Langalis envisions using the proceeds from the auction to bolster his company, Tirrel Corp. This pre-seed-stage startup is developing an implementation and wallet for Bitcoin’s Lightning network, building upon Urbit, an open-source software project reimagining the internet computing stack from its core.
When asked about his expectations for the sign’s sale price, Langalis admitted that he tries to avoid thinking about it. However, he disclosed receiving a private offer to purchase it for five BTC, which translates to approximately $350,000 at current market value. Notably, there is no reserve bid or minimum price set for the auction.
The Birth of a Meme
The image of Langalis holding the sign behind Yellen, who now holds the position of U.S. Treasury Secretary, garnered worldwide attention for Bitcoin. However, this stunt resulted in his removal from the House Financial Services hearing room for breaching committee rules.
Unbeknownst to Langalis at the time, his audacious act had already gained traction on social media, propelling the image into meme status. “I was clueless,” he confessed in a text message, adding that his phone had been dead since his early arrival at the hearing.
The Auction Details
The bidding for the sign will officially commence on April 18th and will continue for a week on Scarce City, an online marketplace specializing in physical and digital collectibles that accepts payment exclusively in Bitcoin.
Although the online auction will conclude on April 24th, final bids will be entertained in person at PubKey, a Bitcoin-themed bar in New York City, where a replica of the sign currently adorns the wall. “It’s a way to celebrate with the community,” expressed Langalis.
This auction presents an opportunity to own a piece of Bitcoin history that has played a significant role in raising awareness about the cryptocurrency.
Divya 
Mehek