The highest price that Bitcoin had ever reached up to was close to $20,000, which was in December, 2017. But the most expensive ‘Physical Bitcoin’ ever made, which is a Casascius coin, is worth 1000 BTC! Yes, you read that right.
What is a Casascius Bitcoin?
Casascius Bitcoins are created the Bitcoin user from USA, Mike Cladwell, who decided to convert cryptocurrency into physical coins. The coins, made of gold, contain an embedded piece of paper and a tamper-resistant hologram, which gives them their value. To retrieve the Bitcoin into one’s wallet, the coin would have to be destroyed/broken to extract the private key of the coin.
Cladwell created a total of 27,673 Bitcoins, in denominations of 1, 10, 25, 100 and 1000 BTC. Though the coins were pretty popular back in the day, the Federal government shut him down in 2013, which is when he stopped making them. Hence, the number of Casascius Bitcoins are limited in number and approximately 20% of them are already destroyed.
Six 1000 BTC coins
Though Cladwell minted out thousands of coins, he only made six coins whose worth is 1000 BTC. This makes them supremely rare, which is why they are regarded as collector’s item. Back in 2013, one of them was sold for $1 million. Out of the six coins, network engineer, Melik Manukyan possessed two of them, which were already redeemed in 2013.
The most valuable coin ever produced. pic.twitter.com/R47q1NpwAN
— Beautyon (@Beautyon_) August 19, 2018
With only 4 such coins remaining in the world, their value is expected to increased exponentially in the coming days.
Image via Shutterstock
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