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Two long-dormant Casascius coins — each backed by 1,000 Bitcoin — have just been activated as of Friday, unlocking more than $179 million stashed away for more than 13 years.&nbsp;
Onchain data indicates that one of the Casascius coins was <a href="https://bitinfocharts.com/bitcoin/address/1Au17NJipcVz2CDbVJBYBajR4AkinbLT7P-nodusting" rel="noopener noreferrer nofollow">minted</a> in October 2012, when Bitcoin was trading for $11.69.&nbsp;
The other was <a href="https://bitinfocharts.com/bitcoin/address/1Au1uZnK87eUMoJKRL9S3wroM29AiUQtL5-nodusting" rel="noopener noreferrer nofollow">minted</a> earlier in December 2011, when Bitcoin was valued at only $3.88, giving that Casascius coin a theoretical return of about 2.3 million percent, not including the cost of minting.&nbsp;
<h2 id="a-little-history-behind-casascius-coins">A little history behind Casascius coins</h2>
Casacius coins are physical metal coins or bars created by Utah-based entrepreneur Mike Caldwell, which were minted between 2011 and 2013.
Caldwell would take Bitcoin and mint it into physical coins, and they are considered one of the most sought-after physical collectibles related to Bitcoin.&nbsp;
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 <img alt="2,000 Bitcoin on the move: Rare Casascius coins awaken after 13 years" src="https://s3.cointelegraph.com/uploads/2025-12/019af1eb-94f3-7cbc-b671-f215c447134a" title="">
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 Source: <a href="https://x.com/SaniExp/status/1997058280401604679?s=20" rel="noopener noreferrer nofollow">Sani</a>
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Each Casacius coin contains an embedded piece of paper with a <a href="https://cointelegraph.com/explained/bitcoin-vs-gold-who-wins-the-christmas-rally" rel="noopener noreferrer nofollow">digital Bitcoin value</a> and is covered in a tamper-resistant hologram. The coins and bars ranged from 1, 5, 10, 25, 100, 500 and 1,000 BTC denominations.&nbsp;
However, Caldwell suspended his business after receiving a letter from FinCEN, over concerns that he may have been operating a money transmitter business without a license.&nbsp;
<h2 id="how-do-casacius-coins-work">How do Casacius coins work</h2>
Only 16 of the 1,000 BTC bars and 6 of the 1,000 BTC coins were ever made, according to some <a href="https://gist.githubusercontent.com/djmelik/44c5fcd8249c3510198ecb66c162b294/raw/d74fb44e00cc7ef034404b3e5898c356d1a9539f/casascius-20200511.md" rel="noopener noreferrer nofollow">records</a>.&nbsp;
The first person to redeem the private key by lifting the holographic sticker will receive the full value of the coin; after this, the coin will <a href="https://cointelegraph.com/news/father-son-team-says-they-recovered-6-million-lost-crypto" rel="noopener noreferrer nofollow">no longer have any Bitcoin value</a>.&nbsp;
Related: <a href="https://cointelegraph.com/news/bitcoin-og-selling-weak-hand-deep-selloff-schiff" rel="noopener noreferrer nofollow">Bitcoin OG’s selling to ‘weak’ hands will deepen selloffs: Peter Schiff</a>
However, redeeming a Casascius coin for its equivalent in Bitcoin <a href="https://cointelegraph.com/news/casascius-bar-hodling-100-btc" rel="noopener noreferrer nofollow">doesn’t necessarily mean</a> that a bunch of Bitcoin is about to flood the market.&nbsp;
In July, a 100 Bitcoin Casascius coin owner, “John Galt,” who had moved his stash from a physical coin to a hardware wallet, told Cointelegraph that he did so because his funds would be more <a href="https://cointelegraph.com/explained/someone-drained-your-exchange-account-here-s-your-emergency-playbook" rel="noopener noreferrer nofollow">easily accessible</a>. He had no immediate plans to cash out.&nbsp;
“Having 100 BTC is life-changing for anyone. But the thing is, I’ve had it for so long that this was more about staying safe than suddenly getting rich,” he said.&nbsp;
Magazine: <a href="https://cointelegraph.com/magazine/13-christmas-gifts-bitcoin-crypto-degens-will-love/" rel="noopener noreferrer nofollow">13 Christmas gifts that Bitcoin and crypto degens will love</a>

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

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Cointelegraph

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