n July 2017, as Janet Yellen testified before Congress on financial regulation, Christian Langalis held up a now-iconic sign simply stating "Buy Bitcoin." While escorted from the premises for violating committee rules, images of the sign went viral online and etched it into Bitcoin history. Nearly seven years later at PubKey, a Bitcoin-focused bar in New York City, Scarce City auctioned off Langalis' original sign. Bidding reached a record-setting height for the platform of 16 BTC, equivalent to over $1 million at the time of sale. The anonymous new owner goes by the moniker "Squirrekkywrath."
Funding Future Innovation
Langalis noted the proceeds would go toward his startup Tirrel Corp., aiming to develop user-friendly Bitcoin lightning network products. As a layer-2 scaling solution powered by off-chain transaction channels, lightning enables faster and cheaper Bitcoin payments. However, improved infrastructure and applications are still needed to drive mainstream adoption. The funds generated will support these goals by allowing Tirrel to focus full-time on research and development. In this way, the sign continues promoting cryptocurrency advancement long after its iconic appearance drew initial eyes to the emerging industry.
A Reminder of Early Growth
Nearly a decade on, the "Buy Bitcoin" sign serves as a reminder of how far the technology and community have come. In 2017, Bitcoin was still a relatively obscure concept outside of dedicated early adopters. Yet by thrusting the simple message onto a nationwide stage, Langalis helped shine a light on cryptocurrency during its formative years. His protest generated buzz that introduced many average citizens to digital assets for the first time. Now, Bitcoin is a household name with a market value topping hundreds of billions of dollars. Its rise in prominence was built on efforts of advocating pioneers like Langalis, whose sign lands in the hands of a new owner still committed to the promise of peer-to-peer electronic cash and a decentralized financial future.
