ChainCatcher news, according to CoinDesk, a rare Casascius physical Bitcoin from 2011-2013 was activated on Wednesday, with its holographic anti-counterfeit label peeled off, and 25 BTC (worth about $1.78 million) stored on it was transferred to a new wallet.
The Casascius coin was created by software engineer Mike Caldwell, with denominations including 0.5, 1, 5, 10, 25, 100 and even 1,000 BTC. Each coin has a receiving address printed on the front and a private key hidden under a holographic anti-counterfeit label on the back. Holders can peel off the label at any time to import the private key and use the Bitcoin, but this action destroys the coin’s collectible value. Caldwell ceased production at the end of 2013 after being informed by the US Financial Crimes Enforcement Network that he was operating an unlicensed money transmission business. Casascius coins with intact holographic labels occupy a special place in the collectibles market, possessing both the face value of Bitcoin and collectible premiums.
This redemption comes at a time of increased activity from long-dormant Bitcoin addresses. Yesterday, a wallet from 2011 transferred 35 BTC after being dormant for 15 years.