After 13 Years, Casascius Bar Owner Transfers BTC to Digital Wallet
A long-term Bitcoin holder, known pseudonymously as ‘John Galt’, has transferred 100 BTC from a physical Casascius bar to a hardware wallet. This move, after 13 years of holding the physical Bitcoin, marks a significant shift in Bitcoin storage practices.
The Evolution of Bitcoin Storage
Galt purchased the Casascius bar in 2012 when Bitcoin was priced under $100. By May 13, its value exceeded $10 million. He described the redemption process as bittersweet, akin to losing a piece of history, but necessary for security.
Key Facts About Casascius Bars
- Physical Bitcoin with embedded private keys
- Available in denominations from 0.5 BTC to 1,000 BTC
- Over 17,000 units remain unredeemed worldwide
The Significance of Physical Bitcoin
Casascius bars represent a unique chapter in cryptocurrency history. Their rarity and substantial value, with some bars worth over $100 million, make them notable collector’s items.
Future Implications
While Galt now stores his Bitcoin digitally, he plans to hold rather than sell. This story illustrates both the sentimental value of physical Bitcoin and the ongoing evolution of secure storage methods.
