Dormant Bitcoin Wallet Moves 2,000 BTC After 13 Years

According to BlockBeats, a Bitcoin wallet associated with Casascius physical bitcoins has transferred 2,000 BTC, valued at approximately $180 million, after being inactive for over 13 years. These bitcoins had remained unmoved since 2011-2012, when the price per bitcoin was less than $15. Casascius physical bitcoins were introduced by U.S. entrepreneur Mike Caldwell in 2011. These coins featured embedded private keys and tamper-evident holograms, serving as offline cold storage. They were available in denominations ranging from 1 BTC to 1,000 BTC. In 2013, the issuance of these coins was halted after FinCEN classified them as an "unregistered money transmitter." Approximately 90,000 coins remain in circulation, mostly in small denominations, with only six coins and 16 bars containing 1,000 BTC each. The reason behind the recent transfer remains unclear, whether it was a sale, internal restructuring, or a precautionary measure due to potential material degradation. Earlier this year, a user holding 100 BTC in Casascius bars faced challenges importing private keys into modern wallets, prompting a transfer of approximately $9 million to a hardware wallet.