The famous Bitcoin Family made up of Didi Taihuttu, his wife and 3 daughters, who have been living on BTC since 2017, said they store their bitcoin in secret vaults located on four different continents.
According to reports, the Dutch family who became famous for betting everything on bitcoin when it was worth $900, decided to store their precious BTC hardware wallets in secret vaults scattered around the globe.
Didi Taihuttu has, in fact, commented as follows:
“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”.
The four continents chosen by Daddy Taihuttu would be Europe, Asia, South America and Australia for a total of 6 vaults.
An “old-fashioned” type of safekeeping, considering the countless online platforms that serve this purpose. Taihuttu’s choice is part of what is often recommended by crypto experts and that is not to use platforms that act as intermediaries for the custody of their assets.
In reality, it is possible to choose both: storing crypto on hot and cold wallets. Indeed, the Taihuttu family itself has stated that 26% of their crypto assets are in the hands of online wallets, as this would represent their “risk capital”.
The Bitcoin Family and their strategies for storing BTC and crypto
The Dutch family has become widely followed precisely because of its choice to sell all its assets and properties and live using only crypto, travelling and spreading the word. Indeed, by 2018, they had sold everything to live their dream.
In an interview with The Cryptonomist 3 years ago, Taihuttu had stated the following:
“We didn’t get into this business to become millionaires, but to support crypto in the whole and share our income with the poor. We just need monthly income to travel eat and sleep and we trust bitcoin will be much higher in the future so we will see what our investment value will be then if you are talking in USD”.
And it certainly can’t be said that the Bitcoin Family hasn’t seen it coming, considering the ATH of the BTC price recorded in 2021 at $60,000.
Precisely for this reason, it is worth sharing Taihuttu’s strategies when speaking about the storage of wallets with crypto-assets.
By storing part of the capital in secret vaults on four continents, it is as if Taihuttu wants to keep it away from everyday use, for which he actually has hot wallets.
In practice, he uses these cryptocurrencies for day trading and potentially precarious betting. Hot wallets that are already connected to the internet facilitate all kinds of transactions, while cold wallets such as Ledger or Trezor are more complicated in the withdrawal phase.
Cold wallets remain a favourite in the crypto space
Despite the complexity for some users to use cold wallets, they are still favoured in the crypto world.
Indeed, “being the sole owner of your BTC” is only possible by making maximum use of decentralization, which disintermediates not only when making transactions, but also when storing your assets.
Besides Taihuttu’s secret vaults, other projects continue to support this type of wallet and develop new ones.
This is the case of the financial company co-founded by Jack Dorsey, Square, which stated at the beginning of July that it was working on the development of a new hardware wallet for bitcoin.
Dorsey himself also commented in a tweet this week that it would be possible to connect every Twitter account to the Lightning Network, which is Bitcoin’s layer 2 solution.
The post “Bitcoin Family”, Didi Taihuttu stores BTC in secret vaults appeared first on The Cryptonomist.
