news 
**Casascius Bitcoin Holder Cashes Out for $10 Million**
After holding onto it for a staggering 13 years, a Bitcoin enthusiast has finally cashed out their ₿ 100 Casascius bar, selling it for an astonishing $10 million. The individual, known as JohnGalt on the Bitcointalk forum, initially purchased the item back in 2012 for around $500.
According to JohnGalt’s post, he tried to sell the bar on several occasions but struggled to find a buyer due to its immense value and the risks associated with selling such a large amount of cryptocurrency. It wasn’t until Bitcoin surpassed $10,000 in 2017 that JohnGalt started feeling anxious about holding onto his treasure. Despite this, he continued to hold off, only finally deciding to cash out when his bar reached a value of over $1 million.
JohnGalt’s decision to sell has brought the total number of unsealed ₿ 100 bars to 182, leaving just 35 still untouched. It is unclear who JohnGalt sold his bar to or what method he used to complete the sale, but it is clear that this monumental transaction has generated significant buzz within the Bitcoin community.
The Casascius coins and bars were created by Utah-based Mike Caldwell in the early 2010s and featured a hidden private key under a tamper-evident hologram. Due to their rarity and limited production run, these items have become highly sought after by collectors and investors alike.
It is worth noting that the sale of Casascius coins was outlawed in 2013 when U.S. authorities deemed it a money transmitting business, requiring registration at the federal level and potentially state licenses.
Source: fullycrypto.com
