Physical Bitcoin worth $1.78M cashed in after 12 years

Key facts

• A 25 BTC Casascius physical coin from the 2011-2013 mint was redeemed.
• The owner removed the tamper-evident hologram to access the private keys.
• Only 0.01 BTC was moved to an external address, with 24.99 BTC remaining on the original address.
• The coin was held for over 12 years before redemption.
• The redeemed BTC was valued at approximately $1.78 million.

A rare 25-bitcoin Casascius physical coin, minted by Mike Caldwell between 2011 and 2013, was redeemed this week. The owner removed the tamper-evident hologram to access the private keys, allowing the Bitcoin to be moved. The transaction, confirmed in block 952,159, had a fee of $2.79. Blockchain data indicates that only 0.01 BTC was sent to an external address, while the remaining 24.99 BTC stayed on the original address, suggesting the owner was testing the private key. At the time of redemption, the 25 BTC were valued at approximately $1.78 million. Intact Casascius coins are considered collectibles and typically sell for a premium over their face value in Bitcoin.