Rare Casascius Physical Bitcoin Redeemed for 25 BTC After 12 Years

Casascius physical bitcoins were minted by U.S. programmer Mike Caldwell from 2011 to 2013, with private keys sealed beneath tamper-evident labels on the back of the coins. After the U.S. Financial Crimes Enforcement Network required Caldwell to stop selling them, unredeemed high-denomination versions became increasingly rare, giving them value both as on-chain assets and collectibles.

In June 2024, the label was peeled from a 25 BTC Casascius coin that had remained sealed for about 12 years, and its bitcoin was transferred to a new wallet. The holdings were worth about $1.78 million at the time. The redemption echoed a recent trend of early holders moving their assets, but breaking the seal also ended the coin's status as an unredeemed collectible.