On July 12, according to Coindesk, as Bitcoin recently reached new highs, early Bitcoin investor and Bitcointalk forum user "JohnGalt" successfully cashed out a Casascius physical Bitcoin gold bar he had collected for 13 years, extracting 100 Bitcoin private keys and gaining approximately $10 million in profits.
JohnGalt pointed out that he initially bought the gold bar for $500 in 2012, when Bitcoin was worth only about $5 per coin and almost no one was interested. He candidly admitted that over the years, he had repeatedly tried to sell the gold bar and even considered auctioning it, but was always unable to complete the transaction smoothly due to valuation disputes and trust issues. Now, with Bitcoin breaking through $100,000, JohnGalt felt that continuing to hold a physical asset worth "eight-digit dollars" had become too risky, which prompted him to finally extract these 100 Bitcoins.
Notably, since BCH uses the same private key mechanism as Bitcoin, before JohnGalt could retrieve the BCH, an observant netizen quickly extracted BCH worth $40,000 from the private key in the photo, a process that took only 9 minutes.
