Back in 2017 a family became involved with Bitcoin and now they have decided to reveal their safeguarding techniques as now the price of their asset has increased in price by around 5,000%. The Dutch family of five’s plan had tons of secret locations spread across four different continents.
During 2017 the Dutch family also known as the “Bitcoin family” decided to liquidate all of their assets and went full into BTC when it traded around $900. While BTC was traded over $45,000 today it seems like their secret fortune is considerably a huge sum. Didi Taihuttu the head of the family explained that he has hidden the hardware wallets across many countries so that he doesn’t have to travel very far to get access to a cold wallet. While in a conversation with CNBC he stated that there are two secret spots in Europe, another two in Asia, one in South America and six in Australia.
He revealed there are no secret basement or caves like that and physical locations ranged from rental apartments and friends’ homes a self-storage site. “I prefer to live in a decentralized world where I have the responsibility to protect my capital,” he explained. Hardware and cold wallets seem like the most secure way to store crypto assets. Nonetheless, the owner is completely responsible for the private keys and there is no one else responsible in case a theft or loss happens. Castle Island Ventures general partner and Coin Metrics co-founder Nic Carter said: “If you want to store your coins truly outside of the reach of the state, you can just hold those private keys directly. That’s the equivalent of burying a bad or gold in your backyard.”
Based on a report from CNBC, 74% of Taihuttu’s total crypto portfolio is contained in cold storage with the rest in hot wallets for easy access and trading. Taihuttu stated that some centralized cold storage companies give huge perk in the event of the death of the holder: “They have beautiful setups for inheritance. When you die, these companies handle that, as well, and I really believe they are doing a great job.”