Major Bitcoin Revelation: 2 Physical Coins Release $179 Million After 13 Years

In a stunning development, two long-dormant Casascius coins, each containing 1,000 Bitcoin, were activated on Friday, releasing over $179 million that had remained untouched for more than 13 years.

Key Takeaways

Two Casascius coins with a total of 2,000 BTC were recently activated after being idle since their minting.
One coin was created in October 2012 when Bitcoin was valued at $11.69; the other was minted in December 2011 when BTC was worth just $3.88.
Only a limited number of these physical coins and bars were ever made, making them rare collectibles.
The release of these coins highlights the significant impact that market conditions can have on asset liquidity.

Bitcoin

The Activation of Historic Coins

Reports indicate that Casascius coins, which are metal coins representing Bitcoin physically, were produced between 2011 and 2013 by Mike Caldwell from Utah. Each coin contained a hidden paper with a private key, safeguarded by a tamper-resistant hologram.

🚨🚨🚨 Two Casascius coins, each containing 1,000 BTC, have just moved after being dormant for more than 13 years. pic.twitter.com/nlFUy39MkD — Sani | TimechainIndex.com (@SaniExp) December 5, 2025

These coins are not only valuable because of their Bitcoin content but also because of their limited issuance—only 16 of the 1,000 BTC bars and 6 of the 1,000 BTC coins were ever created. Caldwell's operation was shut down after he received correspondence from FinCEN questioning whether it qualified as an unlicensed money transmitting service.

Understanding the Mechanism Behind the Coins

The operating mechanism of these coins was both straightforward and strict: anyone who peeled away the hologram to reveal the private key could claim the full Bitcoin amount stored beneath. Once the sticker was removed and the private key was utilized, the coin would lose its Bitcoin value. This moment is considered irreversible by collectors. Some owners opted to transfer funds from their physical coins without cashing out entirely.

BTC Chart BTC/USD was recently trading at $89,579. Chart: TradingView

These activations draw collectors’ and investors’ attention due to the large quantity of Bitcoin involved. Two coins, each containing 1,000 BTC, represent considerable value in a high market. Ignoring the minting cost, the December 2011 coin’s increase from $3.88 to current market rates demonstrates a remarkable return.

However, experts caution that converting the private key into usable Bitcoin is just the first step; the subsequent actions of the holder will determine the final outcome. Some may choose to hold their coins, while others might transfer their holdings into cold storage—a selling decision is far from guaranteed.

Currently, the spot and derivatives markets are facing substantial volatility. According to data from CoinGlass, today’s derivatives activity recorded an astonishing 11,588% liquidation imbalance, leading to significant long position liquidations.

As of now, Bitcoin was trading below $90,000, resulting in over $20 million in long liquidations occurring in just a few minutes, while short positions remained stable. Such lopsided market pressure tends to happen when many traders are aligned in one direction, and market conditions shift rapidly.

Featured image from Unsplash, chart from TradingView