A recent court decision in Australia has the potential to result in a significant payout for cryptocurrency investors. The ruling, based on an alleged theft case involving federal police officer William Wheatley, could classify Bitcoin as money rather than property under Australian tax law, potentially leading to $640 million in tax refunds. 81.6 bitcoins were allegedly stolen by Wheatley in 2019 and are now worth more than $13 million at current market prices. The judge’s decision, which could set a precedent for other cases, challenges the Australian Taxation Office’s (ATO) long-held position that cryptocurrencies are taxable assets. The ATO has classified cryptocurrency as capital gains tax (CGT) assets since 2014, requiring users to pay taxes on sales or trades of Bitcoin, but this ruling suggests Bitcoin functions more like money and therefore may be exempt from CGT. Expert Adrian Cartland estimates a potential for tax refunds of $640 million if the court’s ruling is upheld on appeal. However, the ATO has not yet confirmed official figures regarding potential refunds.