Rare physical bitcoin worth $1.78 million gets cashed in after 12 years
A 25-BTC Casascius physical bitcoin from the 2011–2013 mint was redeemed after its hologram seal was peeled and the private key was swept to a new wallet, moving about $1.7 million at current prices. Casascius coins were physical bitcoin tokens created by Mike Caldwell in denominations from 0.5 to 1,000 BTC, with the private key hidden under a tamper-evident hologram. Redeeming a coin is a one-way action that destroys its collectible status, though intact coins can trade at a premium because they combine face-value bitcoin with numismatic value. Caldwell stopped production in 2013 after regulators said he was operating as an unlicensed money transmitter. Many Casascius coins remain unredeemed, including rare 1,000-BTC pieces that now represent tens of millions of dollars in bitcoin.
