A long-time Bitcoin (CRYPTO: BTC) enthusiast using the alias JohnGalt in May shared an incredible story on the Bitcoin Forum: they finally redeemed their 100 ‘physical Bitcoin’ bar — which had remained untouched since 2012 — for a profit of over $10 million.
What Happened: Originally bought for just $500, the physical BTC bar, one of the rare 100 BTC versions with a private key engraved on the bar, grew in value exponentially over the years.
As Bitcoin rallied past key milestones like $10,000 and later $100,000, JohnGalt admitted to feeling increasing anxiety, noting the immense pressure of holding such a valuable physical asset.
Despite fielding offers and considering auctions, concerns over trust, low bids, and symbolic value kept them from selling, until now.
With BTC trading near its all-time highs in 2025, the estimated value of the bar had surpassed $10 million, prompting the long-awaited redemption.
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Why It Matters: JohnGalt's story struck a chord across the crypto community.
While he expressed some regret about holding so long, most users celebrated his unwavering conviction and restraint through a dozen volatile years.
Many likened the 100 BTC bar to a "Golden Wonka Ticket" — a rare treasure finally unlocked.
The redemption wasn't without technical challenges. JohnGalt described how he used bitaddress.org offline to convert the mini private key into WIF format, scanned the QR code, and accessed the BTC.
To ensure secure custody, he split the funds across multiple addresses via Trezor Suite and finalized the transfer using Electrum, verifying all details before sending.
The redemption also comes at a time when dormant BTC wallets have been springing back to life, as early adopters take profits amid Bitcoin's historic 2025 rally.
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