News 
Coin Information 
About us 
Customer Service 
The recent movement of two legendary “physical Bitcoins” worth more than $120 million has sparked intense discussion across the crypto community. On-chain analysts reported that two 1,000 BTC Casascius coins were transferred after remaining dormant on the Bitcoin blockchain for over 13 years, reigniting interest in one of crypto’s most iconic collectibles.
These funds originated from Casascius coins, early physical Bitcoin tokens created between 2011 and 2013 by Mike Caldwell. Designed to make Bitcoin tangible, these gold-plated brass coins and bars contained embedded private keys hidden beneath tamper-evident holographic stickers. To access the BTC stored inside, the owner must physically peel off the hologram, permanently altering the collectible and revealing the private key required to move the funds.
Casascius coins quickly became popular in Bitcoin’s early days, offering a way to conduct face-to-face crypto transactions. However, production ended in November 2013 after the U.S. Financial Crimes Enforcement Network (FinCEN) determined that selling pre-funded physical Bitcoins qualified as money transmission, requiring regulatory compliance.
The recent transaction also prompted commentary from former Mt. Gox CEO Mark Karpelès. While clarifying that he did not own the massive 1,000 BTC gold bars, Karpelès revealed that he once held numerous smaller denomination Casascius coins during Mt. Gox’s peak. According to him, 25 BTC and 1 BTC physical coins were distributed to employees as performance bonuses.
When these coins were originally minted, a 25 BTC Casascius coin ranged in value from roughly $100 to $25,000, depending on Bitcoin’s market price at the time. Today, with Bitcoin trading near historic highs, a single 25 BTC coin is worth approximately $1.5 million, excluding the significant collector’s premium attached to unpeeled, pristine examples.
It remains unclear how many former Mt. Gox employees held onto their physical Bitcoins without redeeming them. As Bitcoin adoption continues to grow, these rare Casascius coins represent both a piece of crypto history and a multimillion-dollar asset class, blending blockchain technology with tangible collectibles.
Comment 0