Pipped at auction by a late bid, crypto investors were close to purchasing a rare and early copy of the US Constitution for over $40 million.
Is a practical purchase ever made using cryptocurrency?
Whether we’re talking of the multi-million dollar sales of eight bit gifs, the early year hijacking of the stock market, or how an OG dog meme became a profitable investment venture overnight, it’s safe to say crypto has fully shaken up modern marketplaces.
This week stands as further testament to that fact, as crypto buffs came close to making a purchase of both huge financial and historical significance.
Over 17,000 people donated coins to a crowdfunding effort determined to secure a rare copy of the US Constitution. In fact, the copy was one of only two in possession of a professional institution up until Thursday.
— Ryan Wyatt (fwiz.eth) (@Fwiz) November 18, 2021
The effort, organised and orchestrated by a Twitter outfit dubbed Constitution DAO, amassed $40 million in Ethereum which it hoped would ‘put the constitution in the hands of the people.’
The 1700s document, which continues to underpin the supreme law of the US and the fibre of its government, had been valued by fine arts company Sotheby’s at between $15 million and $20 million.
Eventually, the hammer slammed down at $43 million to an anonymous shopper – the record price for a historical document.