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Analytics data published by the Arkham Research platform shows that early Bitcoin adopters Tyler and Cameron Winklevoss, the founders of the Gemini exchange, still own a considerable amount of the world’s flagship cryptocurrency, Bitcoin.
Even though last week they sold more than $100 million worth of Bitcoin, their remaining BTC position is now worth nearly $2 billion in fiat.
Winklevosses still hold close to $800 million in BTC
Arkham published a tweet, revealing that the Winklevoss twins — who initially stood behind the creation of Facebook and then entered the crypto industry firmly by founding the Gemini exchange — sold a significant amount of Bitcoin last week.
They moved an impressive $130 million worth of BTC to Gemini Hot Wallets, “presumably to sell,” Arkham stated. The data source reminded the community that in the early days of Bitcoin, the crypto twins owned 1% of the total 21 million Bitcoin supply, equaling 210,000 coins.
At the current prices, this would have been equal to $14,886,641,700. After selling the aforementioned amount of crypto, the Winklevosses still hold $764 million in Bitcoin. Arkham also said that their Profit and Loss on BTC now comprises $1.8 billion.
20 million BTC mined already
On March 9, the 20 millionth Bitcoin was mined, leaving only one million coins to be extracted from the digital space. Initially, Satoshi Nakamoto created a hard-capped asset with a 21 million supply back in 2008, when the circulating “M1” fiat money supply in the global economy was believed to comprise $21 trillion dollars.
The remaining million Bitcoin will be extracted over the next 114 years, with halvings coming every four years to reduce the block reward size.
At the current price near $70,000, one million BTC is worth $70,706,880,000. Meanwhile, Bitcoin ETFs and treasury companies continue to accumulate BTC. This week, Michael Saylor’s Strategy made a regular purchase, acquiring a mind-blowing 17,994 BTC for $1.28 billion. The company now holds 738,731 BTC in total.
As for retail holders, there is similar news: the Bitcoin supply on crypto exchanges has reached an all-time low, as many have withdrawn their BTC to the safety of cold wallets. This data was provided by CoinGlass, with almost one million coins leaving trading platforms over the past year.
Dan Burgin
Vladislav Sopov
