Long-time Bitcoin holder moves physical coins to a hardware wallet
- A user known as “John Galt” transferred 100 Bitcoin (BTC) from a physical Casascius bar to a hardware wallet on May 13.
- Galt purchased the Casascius bar in 2012 for under $100, and its value exceeded $10 million when redeemed.
- There are over 17,000 active unredeemed Casascius coins and bars, including two worth over $100 million each.
- Galt expressed reluctance to sell the bar intact due to its historical significance but ultimately prioritized security.
The move highlights the ongoing interest in physical representations of Bitcoin, with limited unredeemed options still available in circulation. Galt’s decision reflects both a personal attachment to the asset and practical considerations regarding security.
After holding the physical asset for over a decade, Galt’s transfer of his 100 BTC showcases a significant moment in cryptocurrency history, emphasizing both value and security concerns for long-term holders.
