Unbelievable Crypto Auctions: Epic Satellites and Paper Items
Rare Bitcoin memorabilia has been fetching millions of dollars at auctions, with some sales of non-fungible tokens (NFTs) setting records. As Bitcoin enters its teenage years, there is a growing demand for items related to its early days. Here are five of the most significant and wildest auctions in the crypto world.
1. The “Buy Bitcoin” Sign
In 2017, former Federal Reserve chair Janet Yellen testified before Congress. In the background, a 22-year-old held up a legal pad with “Buy Bitcoin” scribbled on it, which went viral on social media. Known as “Bitcoin Sign Guy,” the sign was eventually sold for 16 BTC, worth about $1 million at the time.
2. An Epic Satoshi
With the rise of Ordinals, the smallest unit of Bitcoin, known as a satoshi, can now be numbered and turned into an NFT. Some sats are more valuable due to their rarity, such as the first one mined after a halving event. ViaBTC decided to sell the debut sat of the current cycle, which was auctioned for 33.3 BTC, approximately $2.1 million.
3. Extraordinary Ordinals
While the NFT craze initially centered around Ethereum, Bitcoin has become the dominant network for sales with the rise of Ordinals. Sotheby’s held an auction for BitcoinShrooms in December 2023, with some pieces selling for a total of $450,000, signaling that the digital collectibles space is still thriving.
4. Beeple Breaks Records
Digital artist Beeple gained fame by sharing pieces of digital art daily. In 2021, a collage of his first 5,000 artworks was minted as an NFT and sold for a staggering $69.3 million at Christie’s auction house. This not only set a record for the most valuable digital art piece but also made Beeple the third most valuable living artist.
5. Real-Life Bitcoin
Casascius coins, physical bitcoins created in the early 2010s, have also seen feverish auctions. Each coin contains a private key to a set denomination of Bitcoin, making them a sophisticated form of cold storage. A brass Casascius 1 Bitcoin coin from 2011 recently sold for $96,000, breaking world records, while a silver one fetched $102,000.
These auctions highlight the high demand and value placed on rare Bitcoin memorabilia, showcasing the continued interest and potential of the cryptocurrency market.
