Crypto-investors are bidding for a rare copy of the U.S. Constitution

ONE crowdfunded cryptocurrency group failed to outbid a private investor for a rare first edition of the U.S. Constitution Thursday.

An unnamed collector scored the document with a winning bid of $ 41 million, more than the $ 40 million ConstitutionDao collective had offered, according to footage of Sotheby’s Manhattan event.

It was unclear why the outfit, which had raised about $ 47 million in cryptocurrency ethereum from over 17,000 investors, no more cryptocurrency got up on one of the 13 surviving official copies of the historical document.

ConstitutionDAO, which stands for a decentralized autonomous organization, invited donors to use blockchain technology to “self-govern with unmatched levels of autonomy and freedom.” The cryptic group had promised to secure the 1787 artifact in a public space if it won the auction.

Woman holding copy of U.S. Constitution with gloves.
The copy is one of only 13 surviving official copies of the historical document.
AFP via Getty Images / Ed Jones
Sotheby's President Brooke Lampley is gesturing on the phone with the winning bid for a 1787 copy of the United States Constitution.
The outfit had raised about $ 47 million in cryptocurrency ethereum from over 17,000 investors.
VIA REUTERS
Viewing the copy of the US Constitution that was at stake
The first edition of the constitution was valued at $ 15 to $ 20 million by the auction house.
AFP via Getty Images / Yuki Iwamura

“Even though this was not the result we were hoping for, we were still writing history tonight with ConstitutionDAO,” tweeted the group. “This is the largest crowdfund for a physical object that we are aware of – crypto or fiat.”

The first edition of the constitution was valued at $ 15 to $ 20 million by the auction house. It last sold for $ 165,000 in 1988 to real estate developer S Howard Goldman.

The sale will benefit his widow Dorothy Tapper Goldman’s charity, which promotes the public’s understanding of democracy, Sotheby’s said.

With Post wires

.

Follow us on Google News

Disclaimers for mcutimes.com

All the information on this website - https://mcutimes.com - is published in good faith and for general information purpose only. mcutimes.com does not make any warranties about the completeness, reliability, and accuracy of this information. Any action you take upon the information you find on this website (mcutimes.com), is strictly at your own risk. mcutimes.com will not be liable for any losses and/or damages in connection with the use of our website.

Give a Comment