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- Two long-inactive Casascius coins containing 2,000 BTC were activated after more than a decade.
- The coins were minted when Bitcoin traded between $3.88 and $11.69.
- Activation doesn’t necessarily signal market selling — often it’s simply a storage upgrade.
Two of the rarest and most valuable physical Bitcoin collectibles have just come back to life. On-chain data shows that a pair of long-inactive Casascius coins — each loaded with 1,000 BTC — were activated on Friday, releasing more than $179 million in Bitcoin that had remained untouched for over 13 years.
Historic Coins Minted When Bitcoin Was Under $12
Both coins date back to Bitcoin’s earliest era, when hobbyists drove the ecosystem and physical collectibles helped raise awareness of digital money.
One of the coins was minted in October 2012, when Bitcoin traded for around $11.69.
The other goes even further back to December 2011, when BTC was valued at just $3.88 — giving that coin a theoretical return of more than 2.3 million percent.
The rarity alone makes the activation notable. Only a handful of 1,000 BTC Casascius pieces were ever produced, and most remain dormant.
What Makes Casascius Coins So Coveted
Casascius coins were created by Utah entrepreneur Mike Caldwell between 2011 and 2013. Each metal coin contains a private key hidden under a tamper-proof hologram, effectively turning Bitcoin into a tangible collectible.
They were minted in various denominations — from 1 BTC up to the extremely scarce 1,000 BTC versions. The concept ended abruptly after U.S. regulators raised concerns that Caldwell’s operation resembled an unlicensed money-transmission service.
Even today, these coins are prized not only for their Bitcoin value but for their historical significance as artifacts of the earliest crypto culture.
Also Read: Bitcoin ETFs See Nearly $200M in Outflows — What’s Driving the Pullback?
Activation Doesn’t Mean Immediate Selling Pressure
While activating a Casascius coin reveals its Bitcoin, it doesn’t guarantee the funds will be sold. Many owners simply migrate funds to safer storage.
In July, one 100 BTC Casascius owner explained that moving his holdings to a hardware wallet was about security, not profit-taking. Despite holding life-changing sums, he stressed he had “no immediate plans to cash out.”
The same may be true today. These newly activated coins may simply reflect long-overdue housekeeping rather than an impending market move.
The awakening of two ultra-rare Casascius coins highlights how much early Bitcoin wealth remains tucked away — and how the culture of collecting helped shape the ecosystem’s earliest years. Whether these funds eventually hit the market or remain in long-term cold storage, their reactivation is a reminder of how far Bitcoin has come since the days when 1,000 BTC fit inside a single physical coin.
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