25 BTC worth $1.78M moved from vintage Casascius physical coin

One Casascius coin, a physical Bitcoin collectible issued between 2011 and 2013, has been opened, leading to the on-chain movement of 25 BTC worth approximately $1.78 million, according to Galaxy Research. Casascius coins are an early form of physical bitcoin that contain a sealed private key, which can be accessed by peeling off a hologram sticker to withdraw the assets. Galaxy Research reported that after the coin's private key was extracted, all 25 BTC were transferred to an on-chain address. The issuance of Casascius coins was discontinued in 2013. Tens of thousands of BTC are still believed to be held in unopened physical coins.