Massive Bitcoin Awakening: 2 Physical Coins Unlock $179 Million After 13 Years

The XRP community is doing a victory dance this December as the Ripple lawsuit filed by the SEC about five years ago totally becomes a thing of history.

On Dec. 22, 2020, the Securities and Exchange Commission (SEC) filed a high-profile enforcement action against Ripple, alleging that it broke securities laws by selling XRP without registering it as a security.

The case evolved into one of the most-watched legal cases in crypto as it rallied the greater crypto industry around XRP. More than a dozen advocacy groups, including the Chamber of Digital Commerce and the Blockchain Association, wrote to U.S. District Judge Analisa Torres in support of Ripple’s position.

Ripple, XRP won

The SEC had contended XRP was a security under the so-called Howey test, named after a 1946 Supreme Court ruling. Ripple contended that XRP did not meet that test because sales took place in the secondary market and there was no pooling of profits.

In July 2023, Judge Torres ruled that XRP was not a security in and of itself but found certain institutional sales to have violated securities law; the decision was widely viewed by the industry as a victory and a check on the SEC’s authority.

The SEC asked Judge Torres to order Ripple to pay more than $876 million in disgorgement and more than $198 million in interest, along with an $876 million civil penalty.

In a win for Ripple, Judge Torres denied the SEC’s bid for Ripple to disgorge profits from its sales on the basis that the case "does not involve allegations of fraud, misappropriation or other more culpable conduct." Ripple was asked to pay $125 million in civil penalties.

Fast forward to October this year, in a move that put a final closure to the case, both parties dismissed their appeals in the U.S. Court of Appeals for the Second Circuit. The stipulation also resolved the civil enforcement actions against Ripple CEO Brad Garlinghouse and its chairman Chris Larsen. This effectively ended one of the cryptocurrency industry's highest-profile lawsuits.

At the time of writing, XRP was trading at $2.04, up 827% from the $0.22 low reached in December 2020 when the SEC lawsuit was filed.

Two Casascius physical Bitcoin coins containing approximately $2,000 worth of Bitcoin moved this week after remaining dormant for 13 years, according to Timechain Index founder Sani.

Casascius, which creates physical Bitcoins that embed real crypto value through a private key concealed beneath a tamper-evident hologram, allows holders to redeem the associated Bitcoin on the blockchain. The coins include a private key hidden under the hologram, intended to secure the Bitcoin until the owner chooses to access it.

These physical Bitcoin coins are considered rare collectibles due to their early issuance, making any movement of such coins a rare occurrence for crypto observers. The coins were among the earliest physical representations of Bitcoin, creating historical artifacts that bridge the digital currency's early days with its current market presence.

Casascius coins and similar physical Bitcoin representations sometimes become active after extended periods of inactivity, typically generating attention within the crypto community when holders decide to access their dormant holdings.

Industry leader Tom Lee has shared how the Ethereum price could reach $12,000 within the next few months. He based his prediction on the Bitcoin price action and how ETH could match the flagship crypto on a potential run to the upside. 

Tom Lee Explains How The Ethereum Price Could Rally To $12,000

Speaking at the Binance Blockchain Week, Tom Lee predicted that the Ethereum price could reach $12,000 as Bitcoin rallies to $250,000 within the next few months. He explained that ETH can reach the $12,000 target if the ETH/BTC ratio returns to its eight-year average of 0.0479. Lee described this potential rally to $12,000 as a “huge move.”

Tom Lee further predicted that the Ethereum price could reach $22,000 if the ETH/BTC ratio gets to its 2021 high of 0.0873. He added that he believes Ethereum will become the future of finance and the payment rails. As such, Lee predicted that the ETH/BTC ratio could reach 0.2500, sparking an Ethereum rally to as high as $62,500. In line with this, the expert declared that ETH at $3,000 is “grossly undervalued.”

Tom Lee also remarked that the bigger the base, the bigger the breakout for the Ethereum price. He noted that ETH spent years building a similar base to its current price action before the move from $90 to its previous all-time high (ATH) of $4,866. The expert added that if the pattern plays out again, the next leg could be larger than what people expect. 

It is worth noting that Tom Lee is the chairman of BitMine, which is the largest Ethereum treasury company. According to Strategic ETH Reserve data, the company currently holds 3.73 million ETH, which is just over 3% of the altcoin’s total supply. Lee remains bullish on the Ethereum price, despite his company holding an unrealized loss of $3.3 billion of their ETH investment. 

A Rally To $62,000 Is “Ambitious”

Market commentator Milk Road described Tom Lee’s Ethereum price prediction of $62,000 in a few months as being ambitious. The platform stated that an ETH/BTC ratio of 0.25 has never happened. The highest it has ever gone is 0.15, and that was during the 2017 supercycle, which makes it less likely now, given that market conditions have changed. 

Tom Lee had based his Ethereum prediction on Bitcoin hitting $250,000, which Milk Road also described as an issue. The market commentator noted that BTC would need to surge 177% from current prices to reach this target. The last time this happened was in 2020 when it surged from $7,000 to $19,000 during the “peak mania.” Notably, BTC didn’t record a 100% gain even when the Bitcoin ETFs launched last year. 

At the time of writing, the Ethereum price is trading at around $3,000, down over 4% in the last 24 hours, according to data from CoinMarketCap.

The crypto market took a sharp breather today after weeks of strong momentum. Bitcoin slipped toward $89,605 after almost touching $100,000, while Ethereum cooled to around $3,034 and XRP dipped near $2.03. The weakness rippled across major altcoins as well, with BNB sliding to $884, Solana dropping to $132, and Dogecoin easing to $0.13. 

Despite the red screens, a major move from traditional finance quietly stole the spotlight. The National Bank of Canada, one of the country’s most established financial institutions, has made a significant entry into Bitcoin exposure, but not in the way many expected.

A Major Move Through MicroStrategy

Instead of buying Bitcoin directly, the National Bank of Canada has taken a huge position in MicroStrategy, the publicly traded company famous for holding more Bitcoin than any other corporation. Fresh data from BitcoinTreasuries.NET reveals the bank now owns 1.47 million MicroStrategy shares, a stake valued at roughly $273 million.

This setup gives the bank indirect exposure to Bitcoin because MicroStrategy’s business strategy heavily revolves around acquiring and holding BTC. For a large regulated bank, this approach offers comfort. It avoids the challenges of handling digital wallets, navigating crypto-focused custody rules, or dealing with accounting complexities related to holding actual Bitcoin.

Why This Matters for Traditional Finance

What makes this move stand out is the size. A quarter-billion-dollar position is not a test run; it shows a rising level of confidence in Bitcoin from one of Canada’s biggest financial players.

This type of investment also signals something broader happening in the industry. By stepping into crypto through familiar equity channels, big banks are showing that digital assets are becoming harder to ignore. It also encourages other institutions to consider similar strategies, slowly merging traditional banking frameworks with the fast-changing digital asset economy.

Community Reaction: “MicroStrategy Is Not Bitcoin”

While the move is widely seen as bullish, not everyone is convinced. Crypto analyst Sovereign Swap cautioned that MicroStrategy stock should not be mistaken for actual Bitcoin. The idea is simple: MSTR offers exposure, but it’s still a company, not the asset itself. The comment also hinted that some investors may be choosing this route because local rules or political restrictions limit their ability to buy Bitcoin directly.

FAQs

It’s easier and safer for regulated banks. They avoid crypto custody rules, wallet risks, and complex accounting while still gaining Bitcoin upside through a familiar stock.

No. MicroStrategy is a company holding Bitcoin, so shares track stock performance, not exact Bitcoin price movements.

Large banks investing via stocks show growing institutional interest, signaling Bitcoin is increasingly accepted in mainstream finance.

Yes. Stock price can be affected by company performance or market trends, not just Bitcoin value, adding an extra layer of risk.

OSL, a publicly-listed digital asset platform and exchange in Hong Kong, has announced the listing of XRP, the fourth largest cryptocurrency by market capitalization.

In an official blog post, OSL Hong Kong announced that XRP is now available on the platform, with its deposits and withdrawals now open.

The recent XRP listing expands OSL HK’s token lineup, with the token available to professional investors via Flash Trade and OTC. Three XRP pairs are available for trading on the platform's Flash Trade, including XRP/HKD, and .

OSL transformed last year into a company fully dedicated to digital assets and completed $300 million of equity financing in July this year.

XRP long-term interest sustains

Despite XRP's recent slide, Santiment noted in a recent analysis that its large holders are still holding up in conviction.

According to Santiment, while XRP has erased about 32% of its market cap in the last two months alone, large investors and funds have continued adding XRP, which suggests that long-term interest has not disappeared.

XRP ETFs continue to attract inflows, sustaining their strong post-launch run. XRP funds, including those from Canary Capital, Grayscale, Bitwise and Franklin Templeton, accounted for a total net inflow of $897.35 million, according to SoSo data.

Santiment highlighted this development as bullish for XRP, noting that even with slower price action, this type of support can help keep XRP from dropping too sharply.

XRP sentiment flips from bearish

At the time of writing, XRP was down 1.83% in the last 24 hours to $2.03 and down 8.31% weekly.

Santiment added that if XRP sees more clarity in regulation and market conditions, it could find a stronger footing again. For now, the community seems patient, watching for signs of bullish momentum and wider financial use.

Analysts at Santiment noted a reversal in sentiment for XRP: while the crowd was extremely bearish on XRP before, this has now reversed to neutral, with Santiment stating it has returned to the middle ground for now.

BitMine expanded its Ethereum holdings this week with nearly $200 million in fresh purchases, deepening its lead as the largest single holder of the asset.

The move comes as ETH trades near a one-month low and follows a period of steady distribution by medium-sized wallets, according to on-chain data.

BitMine’s Acquisition Comes Amid Smaller ETH Holders Offload

Lookonchain, citing Arkham Intelligence, reported that BitMine bought 22,676 ETH from BitGo on December 6 for about $68.7 million. The transaction suggests an average purchase price of roughly $3,028 per token.

Notably, the firm had already acquired 41,946 ETH a day earlier from FalconX and BitGo for about $130.8 million.

These deals build on BitMine’s disclosure last week that it held 3.73 million ETH as of November 30. At current prices, the stash is worth more than $11 billion.

BitMine also reported holdings of 192 BTC, a $36 million position in Eightco Holdings, and $882 million in cash.

Strategy ETH Reserve data shows the company now holds more ETH than its next five peers combined, including SharpLink and the Ethereum Foundation.

The scale of its treasury places BitMine as the second-largest corporate crypto holder by value, behind only Michael Saylor-led Strategy, the largest corporate holder of Bitcoin.

The latest purchases come during a soft stretch for ETH. BeInCrypto data shows the token has fallen more than 10% over the past month to about $3,027.

Alphractal’s Ethereum Accumulation Heatmap indicates that wallets holding 1 to 10,000 ETH sold heavily near this cycle’s recent peak. Those addresses continue to offload tokens, adding pressure to the market.

However, larger whales with more than 10,000 ETH have shown limited activity, with light distribution but no strong accumulation.

Despite the weakness, several analysts maintain a bullish long-term view.

Fundstrat CEO and BitMine Chair Tom Lee said Ethereum could reach $12,000 if Bitcoin climbs to $250,000, citing the historical relationship between both assets and growing demand for tokenized real-world assets.

He added that ETH could rise as high as $62,000 if its valuation ratio to Bitcoin expands over time.