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Winklevoss Twins Are Selling Bitcoin Again? Arkham Flags Big BTC Transfer to Gemini

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The Winklevoss twins, who have been predominantly vocal about Zcash and Cypherpunk lately, have made a large BTC transfer to the cryptocurrency exchange they co-founded a decade ago.

According to data from the analytics company Arkham, the $130 million transfer to Gemini’s hot wallets was done “presumably to sell.”

Their data further indicates that the brothers once owned roughly 1% of bitcoin’s supply. Previous reports suggested that they began buying BTC in 2011, purchasing $11 million in the cryptocurrency at $120 per unit from the $65 million they were awarded in cash and Facebook stock following a legal dispute with Mark Zuckerberg.

Although they reportedly sold a portion of their holdings to launch Gemini, their estimated PnL on bitcoin remains around $1.8 billion, Arkham added.

They have made several newsworthy donations over the years, including multi-million-dollar transfers of BTC to Donald Trump’s 2024 presidential campaign on the promise that he was pro-bitcoin, pro-crypto, and pro-business.

While championing for more privacy in the cryptocurrency industry, their focus has most recently switched toward Cypherpunk – a company dedicated to self-sovereignty.

In the initial statement, the brothers said they will “execute on our mission by accumulating, building, and supporting privacy-protecting assets and technologies at a time when the world needs them more than ever.”

The latest press release shared by the company reads that Cypherpunk Technologies has invested $5 million into Zcash Open Development Lab (ZODL), which is its first tech investment outside of ZEC.

Inlägget Winklevoss Twins Are Selling Bitcoin Again? Arkham Flags Big BTC Transfer to Gemini publicerades först på CryptoPotato.

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