Eleven years after it was brandished outside the offices of the Mt. Gox platform in Tokyo, Kolin Burges’ handwritten sign is now up for auction on the Scarce.City platform. A true symbol of bitcoin’s first major financial crisis. Starting price: 2 BTC, or around $160,000.
MtGox Where is our money?
In February 2014, Mt. Gox – at the time the world’s largest bitcoin exchange platform – abruptly blocked fund withdrawals. Kolin Burges flew from London to Tokyo. With no clear plan, he stationed himself outside the company’s headquarters with a simple cardboard sign, handwritten “MtGox Where is our money?”
This spontaneous gesture, filmed and photographed by the world’s media, became the emblematic image of the scandal. In the face of media, political and public pressure, Mt. Gox files for bankruptcy a few days later. Karpeles announced the loss of 850,000 bitcoins – around 7% of the global volume at the time.
” At the time, I didn’t think for a second that this sign could ever have any value (…) It’s crazy to see how far we’ve come. ” – Kolin Burges
Kept for ten years in a suitcase, the sign was recently framed. It is now being offered at auction as a major historical artifact in the history of bitcoin. It is featured in virtually every major media outlet that has covered the story: Wall Street Journal, CNN, Reuters, NHK…
A symbol engraved in history
The movement launched by Burges lasted almost two weeks in the cold of Tokyo. It was a turning point for the Bitcoin ecosystem, helping to awaken public opinion, alert Japanese authorities and highlight the limits of a sector that was still young, opaque and virtually unregulated at the time.
” Mt. Gox promised that everything was fine, but the truth was obvious to everyone: they were losing control. At one point, a representative even met me privately to beg me to stop. They feared the protests would hasten the downfall. “remembers Burges.
This sign – a simple scribbled card – is now recognized as one of the most significant physical relics of Bitcoin’s history.
Auctions are open until April 11.
To find out more :
- Read the full story of the MtGox protest.
- You can also read the book ” I sold my soul in bitcoins “.