“`html
This month, an extraordinary Bitcoin-centric creation will adorn one of the art realm’s most esteemed platforms. Block 1 from Robert Alice’s Portraits of a Mind collection is scheduled for auction in Sotheby’s Now & Contemporary Evening Sale on November 18, with an anticipated valuation of $600,000 to $800,000.
Robert Alice, Portraits of a Mind, 2019. Credit: Theo Cristelis
This occasion features headline works by distinguished artists such as Yves Klein and Jean-Michel Basquiat, so the inclusion of Block 1 marks a significant moment for Bitcoin’s cultural visibility. The auction will be hosted at The Breuer Building — formerly the residence of the Whitney Museum of American Art and currently Sotheby’s new global headquarters in New York. This represents the inaugural instance where a material artifact of Bitcoin’s journey is showcased alongside prestigious artworks in such a high-profile auction.
While crafting this text, I engaged with Tad Smith, the previous CEO of Sotheby’s and a reflective Bitcoiner, regarding the forthcoming sale and its implications for Bitcoin’s cultural status. Speaking as an archivist and art scholar, I found our dialogue evolving into a contemplation on worth: how both art and Bitcoin depend on scarcity, narrative, and communal belief rather than solely financial indicators. Some of his comments are woven throughout this article. His unique journey –– transitioning from auction house leader to Bitcoiner –– embodies the transformation he articulates: moving from assigning worth within institutions to recognizing value emerging through collective agreement.
Why is this significant? For many years, Bitcoin has primarily been perceived as a financial revolution or a technical advancement. However, Bitcoin is also a burgeoning cultural entity, absent clear avenues for acknowledgment in mainstream society. When a piece like Block 10 (52.5243° N, -0.4362° E) from Alice’s series integrates major collections such as the Centre Pompidou –– one of Europe’s leading modern art museums –– it externalizes Bitcoin’s cultural significance by rendering its intangible ethos into the language of art. I will revisit this later. It serves as a clear indication that Bitcoin’s narrative is permeating broader cultural memory, affirmed by institutions that have traditionally enshrined what holds value in art and culture.
Block 1: The Code That Transitioned to Art
Formally and conceptually, Block 1 is deeply rooted in Bitcoin’s inception narrative. Robert Alice’s Portraits of a Mind series appropriated the initial Bitcoin codebase (version 0.1.0) — arguably one of the most pivotal texts of the 21st century — and transformed it into 40 large-format artworks. Through this initiative, the project established a decentralized, tangible archive of Satoshi Nakamoto’s code, featuring hundreds of thousands of hexadecimal characters spread throughout the collection.
Robert Alice, Detail of Portraits of a Mind, 2019. Credit: Theo Cristelis
Each artwork in the series is associated with specific geographical coordinates that link segments of Bitcoin’s code to locations of human culture and memory. Block 1 (24.9472° N, 118.5979° E) references the Statue of Laozi in Quanzhou, an area where philosophy and commerce have quietly coexisted for ages — close to a city that once served as a pivotal point along the Silk Road. The selection of this site draws a nuanced connection between Taoist philosophy and the libertarian spirit that permeates Bitcoin: Laozi’s concept of wu wei –– governing through non-intrusion –– resonates with the blockchain’s desire for order without rulers.
Tad Smith has referred to the series as a tribute to the foundations of digital sovereignty — a body of work that encapsulates the moment Bitcoin began to emerge.
A decentralized essence resonates throughout the series, echoing rai stones and veiled references to Japanese currency. The work grapples with themes of decentralization, code as text, code as portrayal, and the essence of memory. Influenced by conceptual and minimalist art (artists like Roman Opalka and Jasper Johns come to mind), Portraits of a Mind regards the Bitcoin codebase as cultural legacy, as something worthy of preservation and reflection. The series renders the obscured visible: it converts the code –– the authentic first text of Bitcoin, crafted even before the whitepaper –– into physical embodiment. On November 9, 2008, Satoshi conveyed to Hal Finney: “I actually did this kind of backwards. I had to write all the code before I could convince myself that I could solve every problem, then I wrote the paper”. And Alice encourages us to perceive code not merely as functional directives but as a fundamental human document.
Since its inception, Portraits of a Mind has roamed in ways that reflect the network it originated from. Portions of the series have been exhibited in London, Hong Kong, and New York, as well as at Sealand — the self-proclaimed cypherpunk micronation, once an unlawful data refuge for unregulated internet traffic. Works from the series have also been displayed in museums around the globe in Zurich, Seoul, Beijing, Hanover, and Linz. In 2023, the series was showcased at Monnaie de Paris, the world’s oldest continually operating mint, further broadening its influence in the contemporary art scene.
“““html
Robert Alice’s showcase of Portraits of a Mind at Sealand, the previous cypher punk data sanctuary in the North Sea in 2021. Credit: Robert Alice
Leading auction houses such as Sotheby’s and Christie’s hold a crucial position in affirming emerging artistic trends. For art linked to blockchain, this affirmation commenced in 2020 when Portraits of a Mind first garnered attention: one of its segments, Block 21 (42.36433° N, -71.26189° E), represented the initial Bitcoin-centered artwork to auction at a prominent auction house, setting the stage for the crypto art phenomenon, which predated the Beeple NFT craze by six months and achieved roughly $130,000. With Block 1 participating in Sotheby’s Contemporary Evening Auction in New York, Bitcoin art attains a heightened level of exposure. “In the evening sale [this piece] will further elevate the prestige” of the collection, Tad Smith remarked, accentuating how Sotheby’s platform provides substantial visibility and cultural prominence. Indeed, a significant outcome at Sotheby’s would communicate that Bitcoin’s codebase is now an essential cultural element within the narrative of the 21st century, rather than a niche toy for tech aficionados.
Bitcoin’s Cultural Development
What does Block 1 at Sotheby’s signify regarding Bitcoin’s own cultural development? Firstly, it emphasizes that Bitcoin’s influence is not solely evaluated through market capitalization or hash rate — it’s also assessed in cultural capital. Bitcoin has given rise to ideas, principles, and aesthetics, yet the protocol itself cannot capture those human aspects. There’s a deficiency of on-chain metrics for culture: the blockchain records transactions, but not, for example, the occasion when a Bitcoin artwork is displayed in a museum. As a result, we seek external indicators. When the Centre Pompidou acquires Block 10 as previously mentioned, or when foremost curators in the art world such as Hans-Ulrich Obrist engage with it critically, these are instances of acknowledgment that Bitcoin has generated something deserving of cultural heritage. These indicators signify that Bitcoin is transitioning from a purely monetary phenomenon into a larger cultural occurrence. The acquisition of Block 10 represented the inaugural occasion a piece of Bitcoin’s code was incorporated into a national collection. In France, artworks that join the national collection become part of the public domain and are legally irremovable –– they can never be sold or taken away. In a nation whose modern identity was shaped by revolution, this act bears its own subtle irony: a technology designed to defy authority is now preserved by one of the most ancient symbols of it. A segment of Bitcoin’s genesis code now belongs, indefinitely, to the citizens of France –– archived under the same principles that once championed the reformation of history itself. It’s difficult to envision a more potent validation that the Bitcoin narrative has emerged from its initial techno-utopian niche and entered into the broader cultural dialogue.
The Centre Pompidou in Paris. It houses the French National Collection of Contemporary Art, which now incorporates BLOCK 10 from the series, Portraits of a Mind.
Notably, this institutional acknowledgment coincides with a rising awareness within the Bitcoin community itself — a recognition that culture is not marginal but fundamental to its objectives. As Smith remarks, “Bitcoiners possess something quite significant regarding art. They’re on a mission and highly driven. This is not a pastime or something done on the side. It’s a genuinely dedicated group, brimming with passion and motivated by a sincere wish to improve the world.”
He continues by noting that Bitcoiners are “extremely culturally and socially engaged and intuitive storytellers who grasp memetics and communication in every conceivable manner.” That, as Smith emphasizes, “is the essence of art.” Indeed, to be a Bitcoiner is to be a collector, not merely of art, but of UTXOs. The mindset of collecting and particularly ownership significantly permeates the consciousness of Bitcoiners.
“““html
In summary, Bitcoin enthusiasts have been cultivating culture all along, with their cultural endeavors commencing well before its memes. The inaugural act in its timeline wasn’t financial but symbolic –– Satoshi’s incorporation of The Times headline into the genesis block. This action served as a gesture of documentation and defiance, marking the first moment of Bitcoin asserting its identity through culture.
Currently, as considerable wealth accumulates within this community, their artistic preferences are also evolving. “Many of them, naturally, tend to be younger”, Smith observes, “and younger individuals generally aren’t particularly interested in the art of previous generations. This is nothing novel; it has always been this way for centuries. The younger demographic consistently seeks its own style of art. That’s the reason art and preferences change every few generations.”
With time, he predicts, “The increasing financial resources of Bitcoiners will transform into cultural capital.” With Bitcoin’s market value ascending into the trillions and a significant wealth redistribution to millennials and Gen Z on the horizon, the future of Bitcoin art certainly appears promising. “The future is exceedingly bright”, Smith says, “as the younger demographic has all the favorable conditions” — referring to both financial resources and cultural desires.
Consequently, a new collector demographic is emerging — one that perceives Bitcoin not merely as an investment, but as a narrative and identity worthy of expression through art.
Making Culture Evident
Given Bitcoin’s lack of established cultural institutions, artworks like Block 1 serve as essential reflections. They mirror and externalize the cultural values of Bitcoin adoption in a manner that the broader world can observe and assess. The Sotheby’s auction prompts inquiries on how we assess such an item: Is it its materials and aesthetics, its narrative and conceptual richness, or its importance to a community? In practice, all these factors converge to assign Block 1 its significance. That significance is cultural and contextual, not solely speculative. As Tad Smith discovered during his tenure as CEO at Sotheby’s, a painting’s valuation can fluctuate dramatically based on intangibles: “a piece of canvas with a specific color of paint, a certain artist’s name, a particular year, and a distinct appearance, is valued at $20 million, while one adjacent to it may be worth $2”, a disparity that revealed to him “something intrinsically cultural that truly influences the concept of value”. Bitcoin, frequently referred to as digital gold, likewise derives its worth from a cultural consensus, a collective belief in its importance. Yet, this consensus can be challenging to perceive directly. Art provides a tangible representation of those beliefs. When a Bitcoin-inspired artwork garners attention and a high price, it quantifies a portion of Bitcoin’s cultural influence in a language understood by the art world.
Reflecting on this connection, Smith once likened Bitcoin’s advancement to the construction of a pyramid — a new financial framework, a new understanding of currency. “For the first time in human history”, he remarked, “it’s digital capital. To begin building a pyramid, you start with a series of blocks. At the base level, you create a large square, then add a slightly smaller one above it, and another on top of that.” He characterized Portraits of a Mind as “commemorations of the foundational layer in the creation of future and contemporary digital capital. It’s the foundational document, chronicling the charter of its inception.” A century later, he proposed, people will look back at these artworks to comprehend how Bitcoin began, “they illustrate a snapshot of a moment in time.”
Robert Alice’s showcase of Portraits of a Mind at the Monnaie de Paris, 29 June to 22 October 2023. Credit: Monnaie de Paris.
Art educates by being observed. It encourages interpretation and conversation; a piece like Block 1 prompts individuals to inquire — about Bitcoin’s formative years, its ideology, its community — transcending the usual platforms of conferences or development meetings. Those involved in this realm comprehend that securing Bitcoin’s historical significance entails narrating and re-narrating its story in diverse forms. Visual art, particularly pieces that can be displayed in galleries or studied in art history classes, grants that narrative a tangible existence — externalizing Bitcoin’s story and interweaving it into the broader tapestry of modern culture.
Ultimately, the Sotheby’s event underscores a wider reality: Bitcoin’s growth isn’t solely about technological acceptance or financial indicators, but about cultural assimilation. As Tad Smith articulates, “a life of achievement and richness devoid of culture is quite a dull life.” He further suggests that “the sooner you engage with culture and appreciate the exquisite attributes that render human existence so remarkable — truly a divine gift — the better.”
His message is straightforward yet profound: Bitcoin’s potential resides not just in disrupting finance, but in enriching human experience. Interaction with art is part of that realization. The presence of Block 1 in a setting like Sotheby’s indicates that the Bitcoin community, whether consciously or subconsciously, is starting to acknowledge that concept. Bitcoin is creating a cultural memory with artifacts like Block 1 serving as its external vessels.
Bitcoin is emerging as a subject of cultural heritage, not merely economic speculation. This single item at Sotheby’s encapsulates the narrative of Bitcoin’s inception — lines of code meticulously inscribed in paint and gold — now recognized by some of the most prestigious arbiters of cultural significance, institutions whose validation both defines and thrives on what culture opts to acknowledge.
The auction will be closely monitored, as the hammer price will reveal as much about conviction as about worth, and about how far Bitcoin’s cultural stature has progressed. One cannot precisely measure culture, but a figure can temporarily illuminate its value. The fact that Block 1 now occupies space alongside contemporary masters signifies that Bitcoin’s standing in the world is no longer concealed to traditional gatekeepers. Emerging from a heritage of artistic innovations and cypherpunk culture, it has evolved into a living, multifaceted entity.
In closing, as a final note and an invitation: the auction is set for November 18 at Sotheby’s. You need not bid, but you are welcome to observe. It costs nothing to follow auctions, attend previews, or stroll through museums. That’s how culture becomes comprehensible: by being present to witness it transform.
This is a guest piece by Steven Reiss. The views expressed are entirely his own and do not necessarily represent those of BTC Inc or Bitcoin Magazine.
Source link
“`