TechFlow news, December 7 — According to CoinDesk, two wallets linked to Casascius physical bitcoins recently transferred a combined total of 2,000 bitcoins worth approximately $180 million, after lying dormant for over ten years. These bitcoins had remained untouched since 2011 and 2012, when bitcoin was priced below $15, compared to nearly $90,000 today.
Casascius physical coins, first produced in 2011 by Utah-based entrepreneur Mike Caldwell, are tangible collectibles containing embedded private keys, with denominations ranging from 1 to 1,000 BTC. Each coin features a tamper-evident holographic seal protecting the private key underneath. Caldwell ceased production of pre-funded coins at the end of 2013 after the U.S. Financial Crimes Enforcement Network (FinCEN) identified him as an unregistered money transmitter.
The exact reason for this transfer remains unclear—it could involve a sale, internal restructuring, or a precautionary move to preserve access. It might also relate to degradation of the physical components, similar to an incident earlier this year when a user claiming ownership of a 100 BTC Casascius bar reported difficulty importing the key into a modern wallet after peeling off the hologram.
