Bitcoin record breaking gold coin now valued at $ 54 million

mohamed_hassan / Pixabay

A simple gold bitcoin that cost the anonymous owner just $ 4,905 in 2011 is an incredible return on investment.

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October 7, 2021

gold bitcoin

Source: PCGS

Stored in a drawer for over a decade, this is an ounce Gold coin was created with a denomination of 1,000 Bitcoin (BTC). At the time of purchase, BTC 1,000 was worth $ 4,905. After years of BTC’s popularity, the coin is now worth $ 54 million as of October 6, 2021.

Recently, the anonymous owner spoke to GreatCollections Coin Auctions in Irvine, California to help with valuation logistics for the coin. GreatCollections submitted the BTC coin with an armored detail to be certified Professional coin grading service. Recently the PCGS PR70DCAM (Proof 70 Deep Cameo) coin was certified.

Currently, the Bitcoin community has referred to the 1 ounce gold Bitcoin as “Gold Cas” and has named the company that produced the coin “Casascius”. Mike Caldwell, the founder of Casascius, was in the business of making a number of “Casascius coins” in various denominations, with only six BTC Cacascius coins being created.

What makes this coin so valuable?

In addition to the “Gold Cas” beauty, the coins were designed to represent the amount of an account and functions. They also act as secure containers. First the coin stops digital keys the assigned value of the owner’s Bitcoin account. Second, an eight-digit code on the coin mimics the eight characters of the owner’s Bitcoin address that is specifically assigned to that coin. Finally, embedded on a card are the “private key“That were placed in the coin.

Mike Caldwell coined the first Casascius with “2012 CASASCIUS”. The front contains “1 TROY OZ .999 FINE GOLD”. The inscription reads: “VIRES IN NUMERIS”, Latin for STRENGTH IN NUMBERS. There is a tamper-evident multicolored hologram design on the back.

The value of the “Gold Cas” has also exceeded record-breaking numismatic coins. the 1933 Saint-Gaudens double-headed eagle gold coin sold at Sotheby’s for $ 18,872,250 and the Sultan of Muscat 1804 Draped bust silver dollar sold for $ 7,680,000.

Bitcoin record breaking gold coin

Source: Smithsonian.com

According to cryptocurrency enthusiasts, they are speculating that this anonymous ‘Gold Cas’ owner might be the infamous one Satoshi Nakamoto. Allegedly the creator of BTC, Satoshi Nakamoto has remained anonymous since its inception.

Is it for sale?

The owner is optimistic about the future of Bitcoin and does not plan to sell the coin. GreatCollections deposited the ‘Gold Cas’ in a bank vault abroad.

Bitcoin record breaking gold coin

Source: PCGS

GreatCollections is currently auctioning a 25 BTC gold-plated coin, certified PCGS MS67, without reservation. The auction ends on November 14th, 2021.

BTC broke the $ 50,000 mark for the first time in four weeks on Tuesday due to rising institutional interest. The current total value of Bitcoins in circulation is more than $ 1 trillion. Exceed the value of Facebook. The value of all cryptocurrencies in circulation corresponds to Apple with 2.3 trillion US dollars.

As Bitcoin is heading for its highest recorded price of $ 64,863, maybe he’s right. We could watch the ‘Gold Cas’ coin break its record for many years to come.

Updated October 7, 2021 at 1:20 p.m.

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