[playht_player width=”100%” height=”90px” voice=”Michael (en-US)”]The Dutch family that went all-in on Bitcoin back in 2017 recently revealed their secrets behind the safekeeping of the world’s most popular cryptocurrency. According to them, the key to keep their funds safe is to store them offline in a series of secret locations on 4 different continents.
Back in 2017, the ‘Bitcoin Family‘ sold all their assets and went all-in on BTC when its value was around $900. Now, their investment is nearly 5,000% more valuable, as the cryptocurrency is trading hands at nearly $45,000. Even so, they haven’t disclosed the full amount of their current fortune.
Didi Taihutt, the family’s patriarch, recently revealed that they’ve hidden hardware wallets in several countries. He claimed that the wallets aren’t that far apart from each other in case of an emergency. Also, Taihutt said that he has one hiding spot in South America, one in Australia, 2 in Europe, and 2 in Asia.
Dutch Family Stores Bitcoin Offline
“I have hidden the hardware wallets across several countries so that I never have to fly very far if I need to access my cold wallet, in order to jump out of the market. I prefer to live in a decentralized world where I have the responsibility to protect my capital,” Taihuttu said.
Hardware wallets are a popular alternative to store cryptocurrencies offline. The owner will be in sole responsibility for the store keys. Obviously, that means that there would be no way to recover the money if the wallet is lost or stolen.
74% of Taihuttu’s portfolio is stored offline, with the rest distributed across several online wallets for quick access, says CNBC. The family doesn’t trust banks or post offices, deeming those ‘too risky’ and fearing they could lose their assets.
You can never be too careful with your money, especially if we’re talking about your family’s life savings.