The Winklevoss twins transferred $130 million in Bitcoin (BTC) to Gemini hot wallets over one week, with blockchain analytics firm Arkham Intelligence flagging the moves as likely preparation for sale.
Cameron and Tyler Winklevoss co-founded Gemini, a US-based crypto exchange, after purchasing BTC early using proceeds from their $65 million Facebook settlement.
Why it matters:
- The transfers mark the latest step in a years-long reduction of their BTC position, from 108,000 BTC in 2014 to an estimated 8,700 BTC today.
- Large whale sell-offs on exchange hot wallets increase near-term BTC sell-side pressure during an already volatile market cycle
- Early Bitcoin holders liquidating positions can signal profit-taking near perceived cycle peaks, influencing retail sentiment
- Concentrated sell pressure from a single wallet cluster at $71,000 BTC tests current demand absorption at key price levels
The details:
- Arkham Intelligence reported on March 10 that the twins sent $130 million in BTC to Gemini hot wallets since the prior week, “presumably to sell.”
- On March 6, Crypto Crib also flagged a separate transfer of 1,750 BTC (approximately $128 million at the time) to Gemini’s hot wallet
- Arkham estimates the twins retain $764 million in BTC and have recorded a cumulative profit of $1.8 billion on their position
- BTC trades at $71,057 at the time of this reporting on March 10, 2025
The big picture:
- The Winklevoss brothers once held close to 1% of BTC’s circulating supply, a concentration now reduced by over 92%
- Large early-holder distributions have historically coincided with late-stage bull market cycles, as seen in 2017 and 2021
- On-chain analytics platforms like Arkham now provide near-real-time visibility into whale behavior, compressing the information gap between institutional and retail traders
The post Winklevoss Twins Move $130 Million BTC to Gemini, Cutting Holdings 92% Since 2014 appeared first on BeInCrypto.
