A Bitcoin whale spent 16 BTC (0ver $1M) to buy the “Buy Bitcoin” sign that photobombed Janet Yellen.
Christian Langalis, the “Bitcoin Sign Man,” recently put on sale the famed “Buy Bitcoin” sign that he had proudly brandished initially during Janet Yellen’s Congressional testimony in 2017.
The bidding started on April 18th with the last round of online bidding ending on the 24th Apr at PubKey, a bitcoin-themed bar in New York notably being a center for all bitcoin community enthusiasts.
“Buy Bitcoin” Sign Sale to Fund Lightning Crypto-Wallet
The over $1 million from the iconic sale will go to Tirrel Corp, the company working on the architecture and implementation of the Bitcoin Lightning crypto-wallet.
When the event took place, the young Langalis, 22 years of age, and holding some Bitcoin, made the sign behind Yellen who was in front of the committee as a witness. Members of the committee included the House Financial Services Committee.
However, after the hearing, CRI supporters ignored the judiciary’s decision and Langalis got about seven Bitcoin in the unsolicited contribution.
Additionally, during this surge, Bitcoin’s market performance reached an all-time high when the cryptocurrency traded around $2,300 in 2017, marking a considerable increase compared to its price of around $1,000 registered in May of that fateful year.
Moreover, Langalis acknowledges that Bitcoin has experienced price fluctuations in the past but aims to leverage this positive trend in the crypto market, which major companies like BlackRock and Fidelity triggered as their clients began investing in Bitcoin.
In 2019, Langalis closed at 21 units, a hand-crafted and numbered lot, achieved the average of 0.8 Bitcoin by each auction as the price. Bitcoins seemed to walk into his life when the price of the crypto-currency was approximately what one Bitcoin sold for was $330,000 in USD.
However, Langalis decided to sell the original sign instead of retaining it and pocketing this high value because he could foresee more sustainable profits from his business and his family.
Bitcoin ETFs Experience Net Outflows
Continuing the story of the cryptocurrency, the release of recent information on the outflows from the Bitcoin ETFs data adds to the news. On Wednesday, the net outflows of Bitcoin ETFs were as massive as $120.6 million which amounted to huge numbers.
Indeed, on the same day Fidelity had the outflows of $5.6 million and then $4.2 million were withdrawn from Arc. Meanwhile, the exodus at Grayscale was evident as there was an outflow of -$130.4 million.
