Original Title: "The Birth of 'Physical BTC': A 13-Year, 20,000-Fold Investment Miracle"
Original Author: Wenser, Odaily Planet Daily
The crypto world has never lacked investment miracles, especially with the "one true god" — BTC, where countless wealth creation stories have unfolded among early BTC holders. Known as "digital gold," BTC has gradually reached a price equivalent to one kilogram of gold.
Remarkably, in May of this year, a Bitcoin forum user named John Galt claimed that he purchased a "physical BTC" resembling a gold bar for $500 in 2012, which contained 100 BTC assets, and successfully redeemed it for $10 million this May. Many onlookers initially thought this was just another "physical BTC joke," but after careful verification, many discovered it was indeed true.
Odaily Planet Daily will recount this 13-year, 20,000-fold return investment miracle in this article.
A 13-Year, 20,000-Fold Investment Miracle Unveiled by a Forum Post
In May of this year, a post titled "A Sad Day for Bitcoin Physical Collectors" on the Bitcoin forum bitcointalk attracted a flurry of attention from forum users.
John Galt posted — Yes, remember I mentioned I had a Casascius Bitcoin bar? Yes, it was a 100 BTC one, and I got it for about $500 around 2012. A few years ago, when Bitcoin's price exceeded $10,000, I started to feel very anxious. I mean, holding something worth over a million dollars? That was too much pressure. But I didn't want to redeem it. For me, an unredeemed physical Bitcoin felt more valuable than money itself. I did try to sell it a few times, but it was hard to sell something so valuable, and you really can't trust anyone. I also considered auctioning it, but I would get far less value than the Bitcoin itself. Now that its value exceeds $10.1 million, I know I can't just leave it there. So, yes… even though I was a bit uncertain, I finally redeemed it today. Transaction hash link: https://mempool.space/tx/118d50e57eedbdc37e55edd176b49fb561d2df45d16ac7aabb1365b66d100d43. Sorry.
Between the lines, there is a sense of guilt and lament from a loyal Bitcoin supporter forced to choose between BTC and immense wealth, but between a merely commemorative "physical gold bar" and $10 million, it's likely that an ordinary person would make the more suitable choice.
Thus, a 13-year-old investment miracle that had been buried for so long finally revealed itself to the world, and such miracles, in today's increasingly rigid traditional financial realm, can only be achieved by holding BTC. 13 years, $500, $10 million — these three numbers together constitute this "crypto wonder."
Casascius Physical Bitcoin: A Short-Lived Attempt at "Physical BTC" and a Crazy Wealth Miracle
It is understood that the Casascius physical Bitcoin mentioned by the user John Galt on the Bitcoin forum bitcointalk indeed exists. This project was issued by early Bitcoin evangelist Mike Caldwell in 2011, encapsulating Bitcoin's private keys within a coin or gold bar through physical stickers. These "physical Bitcoins" were once very popular, but due to regulatory pressure, the Casascius company ceased production of embedded real Bitcoin private keys in 2013. Now, these "physical BTC" are more like rare collectibles with significant commemorative value in the long history of crypto.
Image of a physical BTC
According to data from casasciustracker.com, as of May this year, this once "reverse RWA crypto project" has redeemed about 10,000 Casascius coins, with over 18,000 still in a dormant state.
A "physical BTC" coin or bar makes one a millionaire
It can be said that anyone who spent $500 to purchase a "physical BTC" (whether a coin or a bar) back then would have gained about $10 million by holding it until now. Moreover, there are still nearly 18,000 millionaires yet to be discovered, or who have long since disappeared into the annals of history, much like the British programmer who lost a hard drive containing the private keys to 7,500 Bitcoins.
By the way, Mike Caldwell is also an active user on the Bitcoin forum, with the username Casascius, meaning "frank." Additionally, he is an adventurer who previously buried a Bitcoin paper wallet at the North Pole in 2013, symbolically bringing Bitcoin to the ends of the Earth.
Furthermore, after John Galt revealed that he held 100 BTC and had redeemed the corresponding assets, a user on the Bitcoin forum quickly "stole" the BCH tokens from the early BTC holding address using its abandoned private key, valued at over $40,000. It was only after being reminded that John Galt realized he was a step too late, but his response was quite calm; after all, compared to $40,000, receiving $10 million was enough to satisfy him.
John Galt remained calm
Additionally, according to crypto KOL @0x Todd's tracing, these so-called "physical BTC" coins or bars are likely made of alloy + gold plating, not actual gold.
Source: 0x Todd
In conclusion, this is an inspiring story rewarding "BTC diamond hands," a wealth miracle with a return rate exceeding 20,000 times. The protagonist remains the same: BTC, created by the mysterious Satoshi Nakamoto, adorned with the honor of "digital gold," with a capped supply of only 21 million coins.
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