Someone just peeled the hologram off a piece of Bitcoin history. A Casascius 25 BTC coin, one of roughly 800 ever produced, was redeemed after sitting untouched for approximately 15 years, moving 25 BTC on-chain at a value of roughly $2 million.
To put that in perspective, when this coin was minted between 2011 and 2013, 25 BTC was worth somewhere between a few hundred and a few thousand dollars.
What exactly is a Casascius coin
Mike Caldwell, a software developer based in Utah, created Casascius coins as physical representations of Bitcoin. Each coin contained a mini private key hidden beneath a tamper-evident hologram sticker. Peeling the sticker, or “redeeming” the coin, reveals the key and lets the holder move the embedded BTC to any wallet.
Caldwell minted approximately 27,929 physical coins and bars in total, encapsulating about 91,263 BTC across denominations ranging from 0.5 BTC to 1,000 BTC.
