Physical Bitcoin Redeemed After 15 Years, Worth $1.78 Million
A physical Bitcoin from the Casascius collection, minted in 2011, has been redeemed, unlocking access to a wallet containing 25 Bitcoin, valued at approximately $1.78 million. This event highlights the significant appreciation of Bitcoin since the coin's inception, as reported by Decrypt.
On June 3, 2026, a physical Bitcoin from the Casascius collection was redeemed for the first time since its minting 15 years ago in December 2011. This Casascius coin, part of a limited batch created by Mike Caldwell, provided access to a Bitcoin wallet holding 25 BTC, which is now worth around $1.78 million. At the time the coin was issued, its value was less than $100.
The Casascius coins serve as tangible representations of Bitcoin, embedding a private key behind a tamper-evident hologram, which is necessary for accessing the Bitcoin in the associated wallet. The designed intent was to promote discussion about Bitcoin and its use cases as a digital currency.
This redemption marks an important moment not only for collectors but also emphasizes the substantial appreciation of Bitcoin over the past years. The 25 Bitcoin redeemed is part of the "Series 1" batch, which consisted of a total of 345 coins, with 236 of them having been redeemed up to this point, according to Casascius Tracker data.
As more coins are redeemed, the collectibles have gained significant value in secondary markets, often trading at premiums above their underlying Bitcoin value. Unredeemed Casascius coins also fetch high prices, demonstrating the collecting interest surrounding such items.
While the rate of coin redemptions has increased, the pace remains modest compared to the peak activity seen at the end of 2017 and early 2018, when Bitcoin's rapid rise attracted significant attention and investment.
Summary based on original reporting by Logan Hitchcock at Decrypt, originally published Jun 3, 2026. SolanaWire does not republish source content.
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