PANews reported on June 4th that, according to CoinDesk, a rare Casascius physical Bitcoin from 2011-2013 was activated on Wednesday. Its holographic security label was removed, and the 25 BTC (worth approximately $1.78 million) stored within were transferred to a new wallet. Casascius coins, created by software engineer Mike Caldwell, come in denominations of 0.5, 1, 5, 10, 25, 100, and even 1000 BTC. Each coin has a receiving address printed on the front, while the private key is hidden under the holographic security label on the back. The holder can remove the label at any time to import the private key and use the Bitcoin, but this action would damage the coin's collectible value.

Caldwell ceased operations in late 2013 after being informed by the U.S. Financial Crimes Enforcement Network that it was operating an unlicensed money transfer business. Casascius coins, with their holographic tags intact, hold a special place in the collectibles market, possessing both the face value of Bitcoin and a collector's premium. This redemption comes at a time of heightened activity from long-dormant Bitcoin addresses; yesterday, a wallet from 2011 transferred 35 BTC after 15 years of inactivity.