Unassuming Legal Pad with "Buy Bitcoin" Scrawled on It Auctions for Over $1 Million

A yellow legal pad with "Buy Bitcoin" scrawled on it, famously displayed during a 2017 Congressional testimony, has been auctioned for $1.027 million. The sign, initially created by an intern, has become a rallying cry for the crypto community and a testament to Bitcoin's remarkable surge since then. The winning bid was placed by an anonymous buyer for 16 Bitcoin, while the proceeds will be allocated towards funding a Bitcoin software project.

Unassuming Legal Pad with "Buy Bitcoin" Scrawled on It Auctions for Over $1 Million

In a testament to the meteoric rise and cultural impact of cryptocurrency, a yellow legal pad bearing the handwritten message "Buy Bitcoin" has recently sold at auction for a staggering $1,027,000.

The unassuming notepad, which was hastily scribbled upon by a 22-year-old intern during a televised Congressional hearing in 2017, has become an iconic symbol for the burgeoning crypto industry. As the price of Bitcoin has skyrocketed from around $2,300 in 2017 to a record high of almost $74,000 in March 2021, the legal pad has come to represent the mainstreaming of digital assets.

The winning bid was placed by an anonymous buyer who offered 16 Bitcoin for the item, according to Scare City, the online auction platform that hosted the sale. In a dramatic turn of events during the final minutes of bidding, an error mistakenly displayed a bid of $6.4 million before the platform swiftly corrected the figure.

The legal pad, which weighs half a pound, was sold by Christian Langalis, the then-intern at the Libertarian think tank Cato Institute who swiftly penned the message after securing a seat behind Federal Reserve Chair Janet Yellen during her appearance before the House Financial Services Committee in July 2017. Langalis was promptly escorted out of the hearing after the message was captured on live television.

The auction listing described the item as "Ink Drawing on Legal Pad" and noted that the notepad also contains Langalis's handwritten notes from the hearing. According to the description, "The page with the sign drawing was removed from the notepad shortly after the hearing. It has since been reattached with clear archival wire."

Langalis has expressed his intention to allocate the proceeds from the auction towards funding a Bitcoin software project.

The sale of the legal pad has sparked widespread commentary and debate within the crypto community, with some commentators speculating that the substantial bid may have been driven by a desire to acquire a piece of digital currency history. Others have highlighted the pad's significance as a symbol of the growing acceptance and prominence of cryptocurrencies in the global financial landscape.

As the cryptocurrency market continues to evolve and mature, it remains to be seen whether the "Buy Bitcoin" legal pad will further appreciate in value or become a cherished artifact preserved in a museum or private collection. However, its recent auction for an extraordinary sum serves as a testament to the transformative power and lasting impact of this nascent financial frontier.