Citadel CEO Kenneth Griffin paid $ 43.2 million to acquire a copy of the first edition of the US Constitution, beating out thousands of crypto investors who raised funds to bid on the landmark document.
What Has Happened According to a report from Politico, Griffin’s winning bid at Sotheby’s auction last week set a world auction record for any book, manuscript, historical document or printed text.
“The US Constitution is a sacred document that enshrines the rights of all Americans and all those who aspire to be,” said Griffin.
“That is why I intend to ensure that this copy of our Constitution is available for all Americans and visitors to see and appreciate in our museums and other public spaces.”
The US stock exchanges were unchanged at the close; the Dow Jones Industrial Average gained 0.05%
Why It Matters Until the last minute, the biggest contender to win the auction was a cryptocurrency project known as ConstitutionDAO, which raised funds from 17,437 participants to acquire a copy of the Constitution.
We didn’t get the Constitution, but we made history nonetheless.We broke records for the largest crowdfund for a physical object and most money crowdfunded in 72h, which will of course be refunded to everyone who participated.
To all our 17,437 contributors, THANK YOU �
— ConstitutionDAO (, ) (@ConstitutionDAO) November 19, 2021
“We show the world what crypto and web3 are, bringing thousands of people into the process, including museum curators and art directors who are now excited about the idea of continuing to learn,” the project stated.
“We were the first DAOs Sotheby’s has ever worked with, but we are confident that we will not be the last.”
What will happen next? The project is now in the process of issuing refunds to those who contributed to the cause. However, DAO members may not be entitled to receive the full sum they initially contributed due to high commissions on the Ethereum (CRYPTO: ETH) network.