A crypto collector detailing his 13-year journey with physical Bitcoin recounted to Cointelegraph the decision to finally transfer coins from a Casascius bar to a hardware wallet.
On May 13 a BitcoinTalk user identified as “John Galt” disclosed transferring 100 BTC (worth approximately $10.4 million at the time) from a Casascius bar to secure digital storage.
Galt acquired the gold-plated bar during 2012 when BTC was trading below $100.
“Back then I thought Casascius coins were cool and maybe the future,” Galt told Cointelegraph. “I figured if Bitcoin ever got big these coins would be part of history so I started collecting.”
More than $10 million unlocking dilemma
At $104,000 during the revelation, Galt’s bar represented over $10.4 million in value. Though he stated pre-2025 selling deliberations, the rarity and value complicated lawful divestment.
“Redeeming it felt like destroying a piece of history,” explained Galt. “Selling whole with the original sticker intact was far preferable. But accessibility decreased as valuation climbed.”
“Having 100 BTC is wealth-changing for anyone. Yet, given the prolonged holding period, security outweighed the allure of liquidating gains.”
Following redemption, the funds are stored secure in a hardware wallet; without immediate liquidation plans.
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