The sale took place at a popular Bitcoin bar called Pub Key in New York City. The buyer, known only as Squirrekkywrath, is an anonymous client but is well-known within the cryptocurrency community as an industry veteran. They plan to remain anonymous but are excited to add this iconic item to their collection.
The proceeds from the sale will be used to fund the development of a crypto-wallet on the Lightning network, specifically on the decentralized Urbit platform. The mastermind behind this project is none other than Christian Langalis, the person responsible for the aforementioned inscription. Langalis, once a 22-year-old congressional intern, gained recognition as the “Bitcoin Sign Guy” after holding up the sign during a meeting of the House Financial Services Committee. This act resulted in his forced removal from the premises, but it also propelled the inscription to cult status.
Interestingly, this sale comes shortly after the auction of another cryptocurrency-related item. Sotheby’s sold a digital art image of Genesis Cat, an NFT created by the Taproot Wizards project team on the Ordinals protocol, for a staggering $254,000.