Bitcoin whale redeems “Casascius” gold bar containing embedded BTC private key worth ~$750,000

posted 19 days ago
A crypto whale apparently redeemed a gold “Casascius” Bitcoin bar presently valued at $745,000. Casascius bars and coins are physical metal Bitcoin collectibles that were created by Mike Caldwell and sold until late 2013 in increments of 1, 10, 25, 100, and 1000 BTC. The brass coins and the gold-plated bars can be redeemed for actual BTC. They come with an embedded piece of paper containing a BTC address and private key protected by a tamper-proof hologram.

Caldwell explains “...there are several ways to convert the embedded code back into a digital bitcoin so it can be spent over the internet. Most importantly, none of the methods relies on me or any other central issuer, due to Bitcoin’s completely decentralized design. The embedded private key code is everything a Bitcoin client needs to find and claim the digital Bitcoins from the peer-to-peer network.”
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