Two physical Bitcoin collectibles minted in 2011 and 2012 have been activated, unlocking more than $179 million in long-untouched BTC
A pair of highly coveted Casascius coins, each containing 1,000 Bitcoin, have moved for the first time in more than 13 years. The sudden activation released over $179 million worth of BTC, marking one of the most significant awakenings of early-era Bitcoin collectibles in recent years.
On-chain records show that one of the coins was minted in October 2012, when Bitcoin traded at just $11.69. The second dates back even further to December 2011, when BTC hovered around $3.88. That early 2011 coin now reflects an extraordinary theoretical return exceeding 2.3 million percent, excluding minting costs.
Casascius coins, introduced by U.S. entrepreneur Mike Caldwell between 2011 and 2013, became iconic physical representations of Bitcoin’s early history. Each piece contains a private key hidden beneath a tamper-evident hologram, allowing the holder to eventually redeem the full digital value. The rarity is stark: only 16 of the 1,000-BTC bars and 6 of the 1,000-BTC coins were ever produced.
Caldwell halted production after receiving regulatory warnings from FinCEN regarding potential money transmission concerns, making existing Casascius coins even more valuable as collectors’ items.
Redeeming these coins doesn’t automatically mean large BTC sell-offs. Owners often migrate the funds to more secure, modern storage. In a recent example, the holder of a 100-BTC Casascius coin moved the funds to a hardware wallet simply for safety, with no immediate intention to liquidate.
The awakening of these 2,000 BTC underscores the enduring significance of early-minted Bitcoin artifacts and highlights how much untouched wealth from Bitcoin’s infancy still remains dormant.
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This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.