A BitcoinTalk user identified as ‘John Galt’ has redeemed a physical 100-BTC Casascius bar that had been held since 2012, unlocking cryptocurrency now valued above $10 million.
The Casascius bar represents tangible bitcoin ownership with embedded private keys concealed beneath tamper-evident holographic seals. Originally acquired when bitcoin traded below $100 per coin, the asset appreciated significantly during its 13-year storage period.
The holder reported substantial challenges locating credible buyers for the rare high-value item, highlighting liquidity constraints within the physical cryptocurrency collectibles market.
Industry records indicate over 17,000 unredeemed Casascius bars and coins remain in existence, including larger-denomination units such as 500-BTC and 1,000-BTC bars.
This redemption underscores both the security complexities and provenance preservation concerns involved in transitioning high-value physical cryptocurrency assets into digital wallets.