$ 2 billion in unshelled physical Casascius Bitcoins: fewer than 20,000 coins are active – Bitcoin News
While bitcoin is getting scarcer every day, the most popular physical bitcoins produced by Mike Caldwell from 2011 to 2013 have become far more scarce than their digital counterparts. As of September 2021, there are fewer than 20,000 active bitcoins from Casascius’ physical bitcoin collection.
Casascius’ physical bitcoin collection is getting scarcer
Bitcoin has become a well-known technology and in the early years a number of people and companies introduced concepts called “physical bitcoins”. Essentially, a group or individual would make a coin with the Bitcoin symbol engraved on it and the coin would also hold digitally BTC hidden in the body of the coin.
It is safe to say that the Casascius physical bitcoin collection Created by Mike Caldwell is the most popular collection to date, and these rare physical bitcoins sell for much more than the face value of the digital bitcoins they hold.
Casascius bitcoins have a holographic tamper-evident sticker on one side of the coin, and when the sticker is peeled off, the digital bitcoin’s private key is revealed. Caldwell made both coins and bars containing charged bitcoins (BTC) and created Series 1 (1-1,000 BTC), Series 2 (0.5-500 BTC + the DIY storage strips) and Series 3 (0.5-1 BTC).
Unfortunately the US government did forced Caldwell stops minting Casascius bitcoins with loaded ones BTC on them. At the end of Caldwell’s tenure, during which he made these coins, he managed to mint around 27,920 Casascius bitcoins with various charging levels BTC. Over the years, the owners have redeemed the loaded value of these Casascius Bitcoins in a process known as “peel”.
On December 23, 2019, Bitcoin.com News reported on a 100 BTC gold bars that has been peeled or redeemed. That means the digital BTC Value was issued by the owner and the physical bar is blank with no digital value left. Ten years after the first Casascius bitcoins were minted, less than 20,000 are still active with loaded bitcoins BTC.
19,920 physical Casascius Bitcoins to be peeled off
According to statistics from casasciustracker.com, on September 18, 2021, approximately 19.92K active Casascius bitcoins are waiting to be withdrawn. So far, 8,009 coins or bars have been redeemed in the last ten years, and it’s around 43K BTC unpeeled valued at over $ 2 billion.
48.169 BTC $ 2.3 billion was spent on the peeling process. Additionally, there are some lucky owners who still have 1,000. have to peel BTC Bars or coins valued at $ 48 million at today’s exchange rates. For example, from the six 1,000 BTC Series 1 Casascius Bitcoins, of which only 2 have been redeemed so far.
In the same series, Caldwell minted 16,000 BTC Bars and so far 87.50% or 14 bars have been redeemed. There were 81 series 2 100 BTC Coins (valued at $ 4.8 million each) minted by Caldwell and 47 coins to date, or 58.02% of the BTC was redeemed from this minted set.
Today, Casascius’ physical Bitcoin collection has achieved significant numismatic value and the coins and bars are considered coveted Bitcoin collectibles. Even peeled Casascius bitcoins are still worth and some are sold $ 1,999 (for a 2012 piece). A loaded silver Casascius physical bitcoin with 0.1 BTC ($ 4,834) from 2013 retails for $ 20,000 today. A rare uncharged set of 125 physical Casascius aluminum bitcoins is Selling for $ 4,995.
What do you think of the fact that fewer than 20,000 Casascius Bitcoins are active today? Let us know what you think on this matter in the comments below.
Photo credits: Shutterstock, Pixabay, Wiki Commons, casasciustracker.com
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