The Winklevoss twins have sparked attention after they resurfaced with major Bitcoin buy activity earlier today as Bitcoin offers investors another opportunity to buy its dip.
On Wednesday, April 15, Arkham Intelligence firm shared data revealing that the Winklevoss twins have withdrawn about $42.77 million worth of Bitcoin from Gemini.
Winklevoss twins buy Bitcoin’s dip
The move comes as Bitcoin suddenly flipped negative after a notable price rally seen on the previous day. This appears to have reignited confidence among investors as the asset reclaimed the $75,000 mark during the rally.
As such, there are speculations that the rapid rally seen yesterday might have triggered the twins’ interest as they pulled off the move after about a month of inactivity.
Apparently, the $42.77 million Bitcoin purchase by the twins marks their first major move and purchase in over a month, sparking attention across the crypto community.
Prior to their weeks of instability, the previous major transaction they made was a massive deposit of $128.5 million worth of Bitcoin into Gemini.
Winklevoss twins hit lowest BTC balance
This move, which happened to be a major sell-off, pushed their holdings down to around 8,800 BTC, the lowest Bitcoin balance recorded since 2012.
At the time of the Bitcoin sell-off, there were speculations that the twins were losing confidence in the world’s leading cryptocurrency.
As such, speculators have described the latest withdrawal as a possible sign of renewed accumulation, and they have decided to buy the Bitcoin dip following the bullish move seen yesterday.