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Cashing in a $1.78M Bitcoin 🤑

Cashing in a $1.78M Bitcoin 🤑

Someone activated a physical Casascius coin after 15 years, giving them access to a cool $1.78 million in BTC.

Stephen Graves
June 04, 2026

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📝 What you need to know

While the crypto market continues to bleed, at least someone’s having a good time, activating a 15-year-old physical Bitcoin now worth some $1.78 million. The Casascius coins were created by Bitcoin enthusiast and developer Mike Caldwell in 2011 as a “proof-of-concept” conversation piece, each containing a private key to access a wallet holding 25 BTC, then worth around $100.

It’s a curious time to activate a long-held stash of Bitcoin, with the crypto market underwater and BTC testing $62,000 Thursday. Analysts reckon that Bitcoin’s next move could take it as low as the $50,000s. Users of prediction market Myriad, owned by Decrypt’s parent company Dastan, agree, putting a 70% chance on BTC’s next move taking it to $55,000

Someone Just Redeemed a 15-Year-Old Physical Bitcoin, Scoring $1.78 Million in BTC

Physical Casascius coins were minted 15 years ago in the early days of Bitcoin—and the BTC held within is worth a whole lot more today.

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📰 In the News

As BTC Tests $62,000, How Low Can Bitcoin Go?

Bitcoin has dropped 17% in four days, sparking $4.5 billion in liquidations, as analysts warn of a potential move below $60,000.

Fannie Mae-Backed Bitcoin Home Mortgages Are Finally Here, Coinbase Says

Coinbase said a Michigan couple closed on the first-ever conventional, Fannie Mae-backed home mortgage by pledging Bitcoin as collateral.

Tom Lee’s BitMine Plans $300M Preferred Stock Sale for ETH Treasury Push

The offering would tie fixed cash dividends to a staking-heavy ETH treasury model as Strategy’s preferred stock remains under pressure.

With over 75 markets, the Myriad World Cup 2026 Contest enables users to make predictions on every single match. A prize pool of $100,000 is on offer for top traders and makers. The top three traders receive $20,000, $10,000 and $5,000 respectively.

📊 Myriad Insight of the Day

Ethereum next move: Pump to $3K or Dump to $1.5K?

$3K 20%

80% $1.5K

Why it matters

ETH crashed through $2,000 this week, hitting an intraday low of $1,734 as the wider crypto market sells off. Spot ETH ETFs have now logged 15 consecutive days of outflows, and key Ethereum Foundation developers have departed in recent months. With RSI at 34 and no meaningful support between $1,700 and $1,500, the $1.5K side—which overtook $3K in mid-May—has jumped from 65% to 80% this week.

Source: Why Ethereum Could Tank Another 25% Before Finding a Bottom: Analysis (Decrypt)

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🕵🏻‍♀️ Editor’s Picks

British Teen Sanctioned By Russia After Alleging Crypto Use to Evade Sanctions

The teenager's research into Russia’s alleged illicit crypto flows appears to have prompted Moscow's retaliation.

The Best AI Models Still Encourage 'Harmful Intimacy' With Chatbots, Study Funds

A new study finds leading AI models often encourage emotional attachment, portray themselves as human, and fail to maintain clear boundaries.

Cardano Slumps to 5-Year Low Price as Charles Hoskinson Warns of 'Wave of Failures'

Founder Charles Hoskinson was brutally honest about the troubles the Cardano ecosystem could face as the market continues declining.

🥇 Be First to Market With Myriad

Join the Myriad Markets Telegram to see the latest prediction markets the second they drop!

With Myriad, the on-chain prediction market launched by Decrypt’s parent company DASTAN, you can break the news and stake the news, using USDC and points.

📚 Watch, Listen & Learn

📹️ WATCH: Walrus Memory Enables AI Agents to ‘Actually Learn About Us’: Mysten Labs Co-Founder

(brought to you by Walrus)

🎧 LISTEN: The Decrypt News roundup with TylerD - June 4th

Crypto is crashing again, and this time even the alt winners are getting hit. Bitmine is copying Strategy’s playbook And MoonPay just launched a tool that lets AI trade crypto on your behalf.

🎓️ LEARN: What is a Corporate Bitcoin Treasury? The Strategy Behind Companies Holding Crypto

A growing number of companies are using Bitcoin to diversify their holdings and signal forward-thinking financial strategies.

Interested in partnering with Decrypt? Find out more here.