Rare 2,000 BTC Casascius coins move after 13 years of inactivity

Two long-dormant Casascius coins, each containing 1,000 Bitcoin, suddenly came to life on Friday, moving more than $179 million worth of BTC that had remained untouched for over 13 years.

Onchain records show that the first coin was minted in October 2012, a period when Bitcoin traded around $11.69. The second dates back even further to December 2011, when BTC hovered near $3.88. At today’s valuations, that early coin has appreciated by an astonishing margin — more than 2.3 million percent before considering minting fees.

Casascius coins, created by Utah-based entrepreneur Mike Caldwell between 2011 and 2013, are among the earliest and most iconic physical Bitcoin collectibles. Each coin includes a paper wallet sealed behind a hologram. Once the sticker is removed and the private key revealed, the embedded Bitcoin can be claimed, though the physical coin loses its loaded value.

Caldwell halted production in 2013 after FinCEN raised concerns that minting funded coins could be considered an unlicensed money transmission activity. As a result, the total supply of large-denomination Casascius pieces remains extremely limited—only 16 of the 1,000 BTC bars and 6 of the 1,000 BTC coins were ever produced.

While the activation of such coins often sparks speculation about large sales hitting the market, that isn’t always the case. In July, a Casascius collector known as John Galt transferred 100 BTC off his coin and onto a hardware wallet simply for easier access and improved security. He told Cointelegraph that he had no immediate intention of selling despite the life-changing amount.

For now, the awakening of these two massive coins simply stands as another reminder of the extraordinary appreciation early Bitcoin holders have experienced — and the rarity of seeing such historic pieces move at all.