A 15-year-old physical Bitcoin has been redeemed for $1.78 million, marking a significant event for collectors and Bitcoin enthusiasts.
Historic Redemption of Casascius Coin
A 15-year-old physical Bitcoin has been redeemed for approximately $1.78 million, marking the first activation of a wallet associated with a Casascius coin since its creation in 2011. The coin contained a private key that unlocked a wallet holding 25 BTC.
Originally issued in December 2011 when Bitcoin was valued at under $100, the coin is part of a series produced by Bitcoin developer Mike Caldwell, designed to serve as both a tangible representation of Bitcoin and a conversation starter about the cryptocurrency.
Each Casascius coin features a unique Bitcoin address and a concealed private key beneath a tamper-evident hologram, which must be removed to access the Bitcoin stored within. The recent redemption was confirmed by Galaxy Research, highlighting the ongoing interest in these collectible coins.
🪙 CASASCIUS COIN REDEEMED — S1-COIN-25 (25 BTC face) redeemed for 25.0000 BTC ($1.78M)
A physical Casascius bitcoin from the 2011-2013 mint has been peeled and the private key swept on-chain.
— Galaxy Research (@glxyresearch) June 3, 2026
Casascius coins, which range in value from 0.1 to 1,000 BTC, have become increasingly valuable collectibles over the years. Currently, 236 out of the 345 coins from the “Series 1” batch of 25 BTC have been redeemed. Although redemption rates have been rising, they have not returned to the heights seen in late 2017 and early 2018, when Bitcoin first neared the $20,000 mark.
In October 2023, Bitcoin reached a peak price of $126,080, leading to the redemption of 46 coins valued from 0.5 to 25 BTC, totaling around $3.15 million for the most valuable piece during that time. The market for unredeemed Casascius coins remains robust, with some selling for hundreds of dollars even without any Bitcoin allocation.
