Bitcoin Whale Converts 100,000 BTC to $850M Ethereum Stake

Ethereum has recently experienced a significant surge, reaching a new all-time high of $4,885, surpassing its previous peak in 2021. This rally is partly attributed to increased investor confidence driven by the implementation of President Trump's GENIUS Act, which mandates stablecoin issuers to back reserves with liquid assets and enhances regulatory transparency and investor protections. Meanwhile, institutional interest in Ethereum is growing, highlighted by a dormant Bitcoin wallet reactivating to convert over 100,000 BTC into Ethereum, signaling a strategic pivot toward ETH amid rising demand for Ethereum-based ETFs. Tom Lee, Chairman of BitMine Immersion Technologies, has forecasted a 100-fold return for Ethereum, predicting it could surpass Bitcoin's market capitalization as Wall Street adoption accelerates; BitMine is aggressively accumulating Ethereum, currently holding over 1.5 million ETH. Conversely, notable large-scale movements in Bitcoin, such as a $240 million transfer from Binance to an unknown wallet, continue to attract market attention and speculation. These developments collectively illustrate a shifting landscape in which Ethereum is gaining momentum and institutional preference over Bitcoin, reflecting evolving market dynamics in 2025.