Legendary Casascius coins collectible: 2000 BTC are back in circulation after more than 13 years

The two oldest cryptocurrency wallets associated with the historic physical coins from Casascius, a collectible series, made a significant move of 2000 BTC after years of complete inactivity. This occurred in early 2026 and drew the attention of the entire crypto industry, as for the first time in over a decade, such legendary assets were moved. According to blockchain analytics, the last transactions were from wallets that had not been touched since 2011-2012.

What is Casascius: the history of innovative collectible coins

Casascius physical coins represent a unique chapter in the history of crypto-technologies. The project was launched by entrepreneur Mike Caldwell in 2011 and introduced a revolutionary approach to storing digital assets offline. Each coin was issued in denominations from 1 BTC to 1000 BTC and served as a true cold storage, with private keys embedded directly into the physical object.

The innovative design included holographic seals that revealed any tampering attempts and guaranteed authenticity. These collectible coins quickly gained popularity among crypto enthusiasts and collectors as an alternative to digital storage. The total circulation was about 90,000 coins, most containing small amounts, but rare specimens—six coins and 16 bars—were created with a maximum denomination of 1000 BTC.

Regulatory hurdles: why Casascius ceased operations

In early December 2013, the project faced serious regulatory pressure. FinCEN (the Financial Crimes Enforcement Network of the USA) officially labeled Caldwell as an unregistered money transmitter, threatening the continuation of the project. This regulatory blow effectively halted the production of new collectible coins and left the project in stasis.

The decision by US authorities was driven by FinCEN’s view of physical coins as a financial instrument subject to their jurisdiction. Caldwell was unable to continue developing the project legally, and thus one of the most memorable initiatives in crypto history was discontinued.

Why 2000 BTC was activated only now: possible scenarios

The ultimate goal of the recent transfers remains a mystery, but experts suggest several plausible hypotheses. First, it could be related to the physical failure of coin components. Time and storage conditions may have affected the holographic seals and electronic elements, prompting owners to transfer funds to more secure vaults.

A similar case occurred earlier this year when a user on the Bitcointalk forum, claiming to own a 100 BTC Casascius bar, encountered difficulties importing the private key into modern wallets after removing the holographic seal. He was forced to transfer his BTC to a hardware wallet, now valued at approximately $9 million.

Second, the movement could be a preventive measure to preserve access to assets while the collectible coins are still in good condition. Owners might have decided that it’s better to transfer intentionally than risk losing access due to physical degradation.

Today: the new value of legendary coins

At the current rate of about $78,850 per BTC, the 2000 moved coins are worth approximately $157.7 million. This is an extraordinary sum, but it’s worth remembering that when these coins were first activated in 2011-2012, one BTC was worth less than $15. Such a dramatic increase in value has turned these collectible coins into one of the most expensive crypto artifacts.

The movement of these assets is confirmed by blockchain analytics and provides a unique window into the early past of the crypto ecosystem. For many, it’s a reminder of how long the interest in Bitcoin has been rekindled and how fascinating it was to experiment with new forms of asset storage during that period.