2,000 Bitcoin on the move: Rare Casascius coins awaken after 13 years

Two long-dormant Casascius coins — each backed by 1,000 Bitcoin — person conscionable been activated arsenic of Friday, unlocking much than $179 cardinal stashed distant for much than 13 years. 

Onchain information indicates that 1 of the Casascius coins was minted successful October 2012, erstwhile Bitcoin was trading for $11.69. 

The different was minted earlier successful December 2011, erstwhile Bitcoin was valued astatine lone $3.88, giving that Casascius coin a theoretical instrumentality of astir 2.3 cardinal percent, not including the outgo of minting. 

A small past down Casascius coins

Casacius coins are carnal metallic coins oregon bars created by Utah-based entrepreneur Mike Caldwell, which were minted betwixt 2011 and 2013.

Caldwell would instrumentality Bitcoin and mint it into carnal coins, and they are considered 1 of the astir sought-after carnal collectibles related to Bitcoin. 

Source: Sani

Each Casacius coin contains an embedded portion of insubstantial with a digital Bitcoin value and is covered successful a tamper-resistant hologram. The coins and bars ranged from 1, 5, 10, 25, 100, 500 and 1,000 BTC denominations. 

However, Caldwell suspended his concern aft receiving a missive from FinCEN, implicit concerns that helium whitethorn person been operating a wealth transmitter concern without a license. 

How bash Casacius coins work

Only 16 of the 1,000 BTC bars and 6 of the 1,000 BTC coins were ever made, according to immoderate records. 

The archetypal idiosyncratic to redeem the backstage cardinal by lifting the holographic sticker volition person the afloat worth of the coin; aft this, the coin volition no longer person immoderate Bitcoin value. 

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However, redeeming a Casascius coin for its equivalent successful Bitcoin doesn’t needfully mean that a clump of Bitcoin is astir to flood the market. 

In July, a 100 Bitcoin Casascius coin owner, “John Galt,” who had moved his stash from a carnal coin to a hardware wallet, told Cointelegraph that helium did truthful due to the fact that his funds would beryllium much easily accessible. He had nary contiguous plans to currency out. 

“Having 100 BTC is life-changing for anyone. But the happening is, I’ve had it for truthful agelong that this was much astir staying harmless than abruptly getting rich,” helium said. 

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