Two 1,000 BTC Casascius Coins Move as Ex‑Mt. Gox CEO Reveals Employee Bonuses
On-chain observers spotted two 1,000 BTC Casascius physical coins moved after more than 13 years of dormancy. The combined value exceeds $120 million at current prices. Casascius coins are physical, tamper-evident brass/gold/silver coins or bars minted by Mike Caldwell between 2011–2013; each contains a private key hidden under a hologram. Caldwell stopped minting in 2013 after FinCEN deemed pre-funded coin sales a form of money transmission. Former Mt. Gox CEO Mark Karpelès commented he once distributed smaller Casascius coins (1 BTC and 25 BTC) as employee bonuses during Mt. Gox’s peak. A 25 BTC Casascius coin then ranged widely in fiat value; today a 25 BTC coin is worth roughly $1.5 million plus significant collector premium if unpeeled. It is unknown how many former employees still hold unpeeled coins. Keywords: Casascius coins, physical Bitcoin, BTC movement, Mark Karpelès, Mt. Gox.
Neutral
The movement of two 1,000 BTC Casascius coins is noteworthy for size and provenance but is unlikely to alter Bitcoin’s fundamental supply-demand dynamics. These coins originated as pre-funded physical BTC and moving them mostly signals asset reactivation or collector/owner action rather than coordinated market selling. Historically, large on-chain transfers of dormant coins can create short-term volatility or speculative price reactions if funds are sent to exchanges. However, in many similar cases (old-key activations, legacy wallet movements), owners often transfer to cold storage, collectors, or OTC channels rather than immediate exchange dumps. Karpelès’ comment that Casascius coins were used as employee bonuses is color commentary and does not indicate an institutional sell-off. Short-term impact: possible local volatility and increased attention from traders and on-chain sleuths; watch exchange inflows and wallet behavior (movement to exchanges would be bearish). Long-term impact: minimal — this is a transfer of existing supply, not new issuance. Traders should monitor wallet-to-exchange flows, OTC reports, and order-book liquidity; absent clear signs of selling pressure, treat the event as neutral news with potential for short-lived market noise.