Assets, Bitcoin

What Is a Casascius Bitcoin?

A Casascius Bitcoin is a physical coin that contains the digitally encoded private key of a Bitcoin address. The coin is named after its creator, Mike Caldwell, who began minting them in 2011.

Each Casascius Bitcoin is made of brass, with a hologram sticker on the obverse side that contains the private key. When the hologram is peeled off, it reveals a tamper-evident pattern that shows whether or not the coin has been spent.

Casascius Bitcoins are not meant to be spent like regular Bitcoins. Instead, they are meant to be used as a physical embodiment of Bitcoin savings.

NOTE: WARNING: Casascius Bitcoin is a type of physical Bitcoin that is made up of digital tokens. Each token contains a digital bitcoin balance, and the owner can transfer the balance to another user by entering the private key code on the back of the token. It is important to remember that if the physical token is lost or stolen, it cannot be recovered, and any associated Bitcoin balance will be lost forever. Therefore, it is essential to store Casascius Bitcoin tokens securely in a safe and secure location.

For example, someone who owns one might keep it in a safe deposit box or display it in their home as a piece of art.

The value of a Casascius Bitcoin is based on the current exchange rate of Bitcoin at the time it was minted. For example, if one was minted when 1 BTC was worth $100 USD, then it would be worth $100 USD today.

However, if it was minted when 1 BTC was worth $1,000 USD, then it would be worth $1,000 USD today.

Casascius Bitcoins are no longer being minted and Caldwell has stated that he will not mint any more due to regulatory concerns. As such, they are becoming increasingly rare and their value is likely to continue to increase over time.

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