If memory serves, it was a one-off bike produced out of "white carbon fiber," (whatever that is). I think it may have been made by Bianchi and introduced at Interbike.
Every once in awhile someone makes an outrageously expensive bicycle, mainly for the promotional benefits--they are, of course, newsworthy. The cost of the bike can be more than offset by the value of the free publicity, which might otherwise need to be paid for.
I think Cambria Bikes used to have a $20,000 mountain bike for this same reason.
Is there an actual market for these things? Maybe among collectors, but certainly not among enthusiasts. The only super high buck bike I've ever seen which looked like it might have had advantages over "cheap" bikes in the US$ 3-5k range, was that joint Ferarri/Colnago made a few years ago that had an automatic transmission.