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Crypto Bidders Lose Rare Copy of the Constitution to Citadel's Ken Griffin

A group of online friends and cryptocurrency investors lost a close bidding war at $40 million.

Market maker Citadel Securities' Kenneth Griffin has reportedly won a rare copy of the U.S. constitution for $43.2 million in a close bidding war with a group of cryptocurrency investors.

On Thursday, New York's top auction houses Sotheby sold one of thirteen copies of the U.S. constitution to the founder of one of the largest market making firms, The Wall Street Journal reported. 

The bid more than doubles its estimated value of $20 million, according to Sotheby's.

Griffin will advance the copy to a free Arkansas art museum, per the Journal.

A group of 17,000 online friends and cryptocurrency investors reportedly crowdfunded more than $40 million last week  to win the historical document but lost to Griffin, according to the Journal.

The losing bid by ConstitutionDAO pooled 17,437 donors, with a median donation size of $206.26, according to their website.

CNBC reported that there was an eight-minute bidding battle on the telephones between the two contenders.

Griffin in a statement cited by CNBC said, “The U.S. Constitution is a sacred document that enshrines the rights of every American and all those who aspire to be."

"That is why I intend to ensure that this copy of our Constitution will be available for all Americans and visitors to view and appreciate in our museums and other public spaces.”

Griffin has reportedly also collected works by Paul Cézanne, Willem de Kooning, Gerhard Richter, Edgar Degas and Njideka Akunyili Crosby.