Winklevoss twins move $130 million in Bitcoin to Gemini wallets

Tyler and Cameron Winklevoss transferred $130 million in Bitcoin to hot wallets linked to their Gemini crypto exchange over the past week, according to blockchain analytics firm Arkham, which labeled the transfers “presumably to sell.” After the activity, the pair still holds about $764 million in Bitcoin.

Arkham flagged the movements on March 10 and estimated the twins’ unrealized profit at roughly $1.8 billion. The wallets are part of Gemini’s on-exchange infrastructure, which generally receives deposits for trading or withdrawal. Arkham has previously noted that the brothers once controlled about 1% of Bitcoin’s circulating supply.

Other large wallets were active at the same time. On March 9, Bhutan moved $11.8M in Bitcoin, marking its largest transfer since a $6.8M transaction last month. Arkham data indicates Bhutan has moved about $42.5 million in bitcoin so far in 2026 and now holds around 5,400 BTC valued near $374 million.

Separately, South Korea’s Gwangju Prosecutors’ Office reported the sale of 320 Bitcoin that had been seized in a gambling investigation. Authorities lost access to the coins last year in a phishing incident, but the hacker returned the assets to a government wallet, allowing the sale to proceed.

Bitcoin traded back above $70,000 as of this publication after four straight days of declines amid a stronger U.S. dollar and elevated geopolitical risk. The network recently surpassed 20 million bitcoin mined, leaving fewer than 1 million coins to be issued over the next 114 years under the protocol’s fixed supply schedule.

The Winklevoss brothers began building their position in April 2013, buying $11 million in Bitcoin at about $120 per coin using proceeds from a $65 million settlement in cash and Facebook stock related to their dispute with Mark Zuckerberg. Their holdings topped $1 billion in value by December 2017 as Bitcoin neared $20,000, and they later sold a portion to help launch Gemini, the exchange they founded in New York.

Gemini has been reshaping its operations. The company recently outlined plans to exit the United Kingdom, European Union and Australia and to cut its workforce by roughly 25% while moving to a more automated model. In September 2025, Gemini completed an initial public offering that raised $425 million, pricing Class A shares at $28.

The brothers have also used some of their bitcoin for political contributions. In August 2025, they donated 188 BTC, valued at about $21 million at the time, to the Digital Freedom Fund PAC, a committee backing pro-Trump candidates in the midterm elections.