Bitcoin News
By Evie Vavasseur
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What the On-Chain Data Shows. The Bitcoin inside the coin was first received way back in block 156,413, recorded on December 7,…
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Casascius Coins and Why Anyone Cares. Casascius coins are a weird and wonderful artifact from Bitcoin's early days.
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Reading the Market Timing. The redemption landed during a rough patch for Bitcoin prices.
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A coin from 2011. Twenty-five Bitcoin. Roughly $1.78 million unlocked during one of the rougher stretches the crypto market has seen lately.
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Galaxy Research flagged the movement: a physical Bitcoin piece identified as an S1-COIN-25 Casascius coin, originally loaded with 25 BTC more than a decade ago, was cracked open…
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The Bitcoin inside the coin was first received way back in block 156,413, recorded on December 7, 2011. That's early. Bitcoin was barely a concept most people had heard of.
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Then things moved fast. On June 3, the first spend hit: 25.00002187 BTC left the address. Of that, 24.
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No exchange deposit. No custodian fingerprint. The BTC basically moved from an old legacy address format to a modern SegWit address and stopped there. Could be a custody shift.
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Casascius coins are a weird and wonderful artifact from Bitcoin's early days. Each one is a physical coin — metal, real weight in your hand — with a Bitcoin address and private…
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That's the trade-off every holder of one of these things faces. Keep the hologram sealed, and you've got a rare collector's piece that commands a serious premium over the face…
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So when someone redeems a Casascius coin, especially one loaded with 25 BTC from 2011, it's not a small decision.
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The redemption landed during a rough patch for Bitcoin prices. Near $63,000 on June 4, Bitcoin had been under pressure.
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What's probably true is that holders of very old Bitcoin watch markets closely. Long-dormant coins moving during selloffs tend to spook people a little — the assumption being…
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And it's worth saying: movements like this get scrutinized hard. On-chain analysts, traders, Crypto Twitter — everyone watches when old coins wake up.
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The SegWit address the funds landed on hasn't done anything further, at least not at the time Galaxy Research flagged the activity.
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