A crypto user known as John Galt, a pseudonym on BitcoinTalk, recently moved 100 Bitcoin (BTC) from a physical Casascius bar to a hardware wallet. Galt bought the Casascius bar in 2012 when BTC was still priced below $100. The bar was valued at over $10 million on May 13, when Bitcoin’s value was around $104,000.

Casascius bars go from small 0.5 BTC and 1 BTC coins made of brass or silver to large 100 BTC gold-plated bars. There are very few unredeemed Casascius bars and coins still out there. Each of these bars features 1,000-BTC bars (over $100 million) and 500-BTC bars ($50 million). Of these, there are only 35 of the 100-BTC bars.

Turning the Casascius bar into bitcoin wasn’t an instant millionaire thing, it was an instant-you-stay-safe move, Galt said. Even though he’s raised more than a million dollars, he has no set timeline to cash out the money.

"Having 100 BTC is life-changing for anyone. But the thing is I’ve had it for so long that this was more about staying safe than suddenly getting rich." - John Galt

Upon transferring the funds, Galt posted on BitcoinTalk to detail his decision to relocate the assets. He came to buy the bar when he considered Casascius coins cool — maybe even the future.

"Back then, I thought Casascius coins were cool and maybe the future," - John Galt

To which another crypto user—who was similarly happy to have cracked open a 100-BTC Casascius bar he purchased back in 2012—agreed.

"This was more about staying safe than suddenly getting rich," - a crypto user who converted a 100-BTC Casascius bar they bought in 2012.

Incredibly, some collectors mourn the “loss” inflicted upon them by the redemption of these physical bitcoins.

"Redeeming it felt like destroying a piece of history, like melting down some ancient gold necklace or something," - John Galt