Art manager

Billionaire hedge fund manager Ken Griffin outbids crypto investors at auction

The billionaire hedge fund manager and founder of Citadel outbid a group of cryptocurrency enthusiasts in an auction that put up for sale one of the rarest and first printed copies of the U.S. Constitution .

The billionaire owner of the hedge fund paid $ 43.2 million to win the bidding war and wrested the US Constitution from it. But what does Ken Griffin intend to do with his last prestigious possession?

“A sacred document”

He plans to donate it to the Crystal Bridges Museum of American Art. The museum is located in Bentonville, Arkansas.

Speaking of his $ 43.2 million decision to win the U.S. constitution, rarely the first edition, he said, “The U.S. constitution is a sacred document that enshrines the rights of every American and all who aspire to it. be, ”Griffin said.

“I intend to make this copy of our constitution available to all Americans and visitors to view and enjoy in our museums and other public spaces,” he added.

The presale estimate for the rare first edition of the US constitution was in the range of $ 15-25 million, but the billionaire hedge fund manager ended up paying twice the amount.

The Crypto Investors Collective

The tender came from a group of crypto investors called “CollectiveDAO”. The group launched a campaign that pooled the money of 17,000 crypto investors to win the auction and be the proud owners of a rare first printed copy of the U.S. Constitution.

Each member was asked to contribute a flat amount of $ 206, according to the message CollectiveDAO circulated following their loss.

“We have incorporated this into reality. We have made history, ”the collective wrote on Twitter after the auction.

Meanwhile, Ken Griffin owns Citadel and Citadel Securities, some of the most prestigious financial services institutions on planet Earth. The business mogul was a center of attention earlier this year when his company was vital in the frenetic trading of GameStop shares.