The owner of Casascius Bar describes the heaps of 100 BTC for 13 years

A crypto user who held physical bitcoin for about 13 years spoke to Cointelegraph of what led to his decision to finally move the parts in a wallet.

On May 13, a BitcoinTalk user going to the pseudonym “John Galt” said They had moved 100 bitcoin (BTC) From a physical casascius bar to a material wallet. Casascius bars and pieces are physical representations of different quantities of bitcoin, with private keys to access it to the film on the objects themselves.

Galt said he bought the bar in 2012 when the BTC price was less than $ 100.

“At the time, I thought that Casascius coins were cool and perhaps the future,” he told Cintelegraph. “I thought Bitcoin has ever obtained great parts would be part of the story, so I started collecting.”

More than $ 10 million in physical bitcoin

On May 13, the Bitcoin price was around $ 104,000, which made the Galt bar worth more than $ 10 million. Although he declared to Cointtelegraph that he had planned to sell it before 2025, it was difficult to find legitimate buyers for such a precious goods.

“The acquisition wanted to destroy a piece of history, like melting an old gold necklace or something,” said Galt. “I would be rather well sold whole with the sticker and everything is still intact. But the higher the value has become, the more most of them. ”

Although the funds were bought and more easily accessible via the material portfolio, Galt said that it did not have the immediate intention of withdrawing money. Before using the private keys, he said he kept the bar in a safe outside his house.

“Having 100 BTC changes their life for anyone. But the thing is that I had been more safe than it was suddenly rich for so long.”

In relation: The father-son team says they have recovered $ 6 million in lost crypto