25-BTC Casascius coin redeemed after 12 years

A physical Bitcoin token containing 25 BTC, worth approximately $1.78 million, was redeemed this week after remaining untouched for more than twelve years. The transaction involved peeling the tamper-evident hologram from a Casascius coin minted between 2011 and 2013, allowing the owner to access the cryptocurrency onchain for the first time since its creation.

The coin was part of an early production run known as Series 1, which originally included 345 units. According to data from Casascius Tracker, 236 coins from that batch have now been redeemed. The transaction was confirmed on the Bitcoin blockchain, processed by the mining pool AntPool, with a minimal network fee. Onchain records show that only 0.01 BTC was initially moved to a separate address, while 24.99 BTC remained at the original address. This pattern suggests the owner was likely performing a security test to verify access to the funds.

Casascius coins were created by software developer Mike Caldwell as physical representations of Bitcoin. Each coin contained a private key concealed beneath a holographic sticker affixed to its reverse side. Removing the sticker to reveal the key is a one-way process that...