Rare $10M Casascius Bitcoin Bar Cracked Open After 13 Years, But Owner Loses It In Minutes

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In one of the most gripping Bitcoin redemption stories to surface in years, a long-time BTC holder has cracked open a Casascius gold bar after holding it tight for over a decade, only to see part of his potential profit vanish in a flash.

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Originally purchased for just $500 in 2012, the Casascius bar held 100 BTC, now worth over $10 million. After 13 years of dormancy, the owner finally unsealed the bar’s mini-key hologram and moved the coins into new wallets.

He didn’t cash out. Instead, recognizing the sheer value now attached to a single physical wallet, he opted to split the BTC across multiple addresses, a move aimed more at security than liquidation.

Casascius bars, minted during Bitcoin’s early years, are now collector’s treasures. Only 35 unopened 100-BTC bars are believed to exist, according to Casascius records.

These gold-plated pieces carry embedded private keys and were once traded freely, even fetching 125 BTC during their heyday. But the market has since dried up. Today, they’re mostly auctioned as high-value novelty items, with physical security a rising concern.

News of the redemption quickly lit up crypto Twitter. Crypto analyst @TheBTCTherapist, reacted: “Holy shit. $10 million dollar profit”.

Holy shit. $10 million dollar profit