Two long-dormant Casascius coins, each backed by 1,000 Bitcoin, were activated, unlocking over $179 million after 13 years. One coin minted in 2012 was worth $11.69, while the other from 2011 was valued at $3.88, with a return of 2.3 million percent. Casascius coins were physical collectibles created by Mike Caldwell between 2011 and 2013, with Bitcoin embedded value.

Each Casascius coin contains an embedded piece of paper with digital Bitcoin value and a tamper-resistant hologram. Coins ranged from 1 to 1,000 BTC denominations. Only 16 of the 1,000 BTC bars and 6 of the 1,000 BTC coins were made. Redeeming the private key gives full value. Redeeming a Casascius coin doesn’t flood the market with Bitcoin.

Casascius coins are redeemed by lifting the holographic sticker to receive the full Bitcoin value. Redeeming a Casascius coin doesn’t necessarily mean flooding the market with Bitcoin. One owner moved 100 BTC to a hardware wallet for accessibility, not immediate cash out. Staying safe was more important than instant wealth.

Read more at Cointelegraph: Two Dormant Casascius Coins Unlock $179M in BTC