Cointelegraph spoke to a crypto-user who held Bitcoin in his hands for 13 years and asked him what ultimately led to the decision to move them to a digital wallet.
BitcoinTalk member pseudonym on the 13th of May. “John Galt” said They had transferred 100 Bitcoins (BTCFrom a Casascius Bar to a Hardware Wallet. Casascius bar and coin are physical representations that represent different amounts Bitcoin. Private keys for accessing them are attached on film to these objects.
Galt stated that he purchased the BTC bar when it was priced under $100 in 2012.
“Back then I thought Casascius coins were cool and maybe the future,” He told Cointelegraph. “I figured if Bitcoin ever got big these coins would be part of history so I started collecting.”
Bitcoins valued at more than 10 million dollars
Galt’s bars were worth $10 million or more on May 13. Galt told Cointelegraph, he was considering selling his bar by 2025 but it would be difficult to sell it.
“Redeeming it felt like destroying a piece of history, like melting down some ancient gold necklace or something,” Galt. “I would’ve way rather sold it whole with the sticker and everything still intact. But the higher the value went the harder that got.”
Galt claimed that, despite having the funds redeemed through his hardware wallet and being more accessible than before, he did not have any immediate plans to cash them out. Galt reported that before using the keys, the bar was kept in a secure vault near his home.
“Having 100 BTC is life-changing for anyone. But the thing is I’ve had it for so long that this was more about staying safe than suddenly getting rich.”
Related: Father-son team says they’ve recovered $6M in lost crypto
A limited amount of Casascius coins and bars that have not been redeemed are still available. These range from brass and silver 0.5 BTC or 1 BTC coin to gold-plated 100 BTC bars. A tamper evident hologram is sealed on the physical Bitcoin. This reveals a secret key.
The Casascius Tracker Uberbills reports that there are currently a total of 0 Casascius in the world. were There were more than 17000 coins and bar that are still active but have not been redeemed. Two 1,000-BTC coins worth over $100 million were included, as was a 500-BTC coin worth $50,000,000 and 35 100 BTC bars.
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Source: cointelegraph.com
