Crypto investors outbid for rare copy of the U.S. Constitution

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A crowdfunded cryptocurrency group did not outbid a private investor on Thursday for a rare copy of the first edition of the U.S. Constitution.

An anonymous collector awarded the document a winning phone bid of $ 41 million, more than the $ 40 million donated by the ConstitutionDao collective, according to footage from the Sotheby’s event in Manhattan.

It was unclear why the company, which had raised some $ 47 million in cryptocurrency ethereum from more than 17,000 investors, failed to shell out more cryptocurrency on one of the 13 official copies. survivors of the historical document.

ConstitutionDAO, which stands for Decentralized Autonomous Organization, called on donors to use blockchain technology to “self-govern with unprecedented levels of autonomy and freedom.” The cryptic group had pledged to secure the 1787 artifact in a public space if it won the auction.

The copy is one of 13 surviving official copies of the historic document. AFP via Getty Images / Ed Jones The company had raised some $ 47 million in ethereum cryptocurrency from more than 17,000 investors. VIA REUTERS The first edition of the Constitution was valued at $ 15. to $ 20 million per auction house. AFP via Getty Images / Yuki Iwamura

“While not the outcome we hoped for, we still made history tonight with ConstitutionDAO,” the group tweeted. “This is the largest crowdfund for a physical object that we know of – crypto or fiat.”

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

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

With post wires

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