Rare physical bitcoin worth $1.78 million gets cashed in after 12 years

The S1-COIN-25 physical bitcoin, part of Mike Caldwell's 2011-2013 mint, had its tamper-evident hologram peeled and the 25 BTC swept on-chain on Wednesday. What to know : A rare 25-bitcoin Casascius physical coin, minted between 2011 and 2013, was peeled this week and its 25 BTC—worth about $1.78 million—were moved to a new wallet. Casascius coins, created by software engineer Mike Caldwell, embed real bitcoin under tamper-evident holograms and are prized by collectors for both their face value and numismatic premium when left intact. Redeeming the coin destroyed its collectible status and came amid a broader burst of activity from long-dormant bitcoin holdings, including a 2011-era wallet that just moved 35 BTC after 15 years.