One of the rarest physical Bitcoin collectable is the Casascius bar. This bar is loaded with 100 BTC and has been recently redeemed by John Galt during the Bitcoin talk discussion forums. The bar has been previously purchased by the collector in 2012 for only $500 USD. Furthermore he has held it for over 13 years before selling it as Bitcoin crossed the $100,000 mark. That opened a treasure trove currently valued at more than 10 million dollars, which is almost 2,000,000 percent of his paltry 2012 investment.
Struggle of Possession of Million-DollarObject
Galt has also mentioned that the reason of selling was due to the risk of possessing one thing, which was worth millions of dollars. He had once attempted to sell the physical coin but he struggled getting good people to sell such a treasured piece. Galt told him how he was not ready to accept anything less than the digital value of Bitcoin. Furthermor, even expressed that there was an option of using an auction. However, he would be given something less in value than the Bitcoin holds.
Legacy Historic Casascius Physical Bitcoin
It is important to note that mike Caldwell was the first to mint physical bitcoin collectibles back in 2011 . Which are currently some of the most known collectible in the history of crypto. BTC was encased in the bars and coins (in denominations between 0.1 . And 1,000 BTC) and became an attractivee object for collectors. They were # with each work having a Bitcoin addresses and an encrypted private keys underneath a hologram providing real physical representations of BTC.
Making Stopped And Expectations Keep on Climbing
In 2013, the US Financial Crimes Enforcement Network deemed Caldwell operation as a money transmission service and stopped its production. Even though there was the shutdown in the regulatory system, Casascius coins have been schowing an increasing trend in terms of currency and history. The physical coins themselves keep high collector premiums, and can be listed on markets. For example such as eBay, at approximately US$20,000 USD. According to data from the official casasciustracker website, approximately 10,000 Casascius coins have been redeemed.
