Reshab AgarwalBillionaire Ken Griffin pays $43 million to get his hands on a copy of the US Constitution that went on sale recently. He outbid a group of crypto investors and other enthusiasts to buy this original copy that’s very rare. When the copy was originally made, there were only 500 copies, and now it is expected that only 13 are left, counting this one. The plan of Ken Griffin is to loan the copy to the Crystal Bridges Museum of America Art in Bentonville, Ark, to display it to the public.
The sale of the document
After the announcement was made by Sotheby’s about the US constitution document, more than 17,000 people participated in the same. While the auction house valued it at $15million-$20million, the raised amount was more than $40 million. This shows that people were really excited to get their hands on this rare document. Ken Griffin said that the copy of the US Constitution is a sacred document having the rights of all US Citizens. Therefore, it is necessary that the document is available at museums and other public places where people can see it.
The bidding went quite strong, and there were groups that were bidding on behalf of their owners but anonymously. The main battle was between ConstitutionDAO, which is a decentralized autonomous organization, and Ken’s group. The anonymous group is through which the public-funded bidding happened. Even though they lost, the bidding became history as the largest crowdfund for a physical object at $40M.
People aren’t happy
The sale actually doesn’t matter here but what really matters is that Ken Griffin won the bidding against ConstitutionDAO that represented the people. People on Twitter are actually making comments like Wall Street won again and that Ken got another way to launder money. I am not criticizing him for anything, but investing in art is a very common way to save taxes and launder money. So, I am just pointing things out here. Some people didn’t even believe this was happening and expressed the news as an onion article.
What are your thoughts as Billionaire Ken Griffin pays $43 million for a copy of the US Constitution? And do you think that this was genuine or just for saving taxes? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
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