Family sells everything to buy bitcoin and hides fortune around the world

Credit: Bitcoin Family

All family wallets are physical (Credit: Bitcoin Family)

The Dutch Taihuttu family, consisting of a father, mother and three children, sold all belongings and assets to buy bitcoin in 2017. Back then, before the first cryptocurrency boom, the coin was worth around US$900. in digital currency held by the family is a fortune kept in secret vaults on four continents.

“I hid the hardware wallets in several countries so I never have to fly too far if I need to access my physical wallets in order to jump out of the market,” Taihuttu, father of the “Bitcoin Family,” told the television network CNBC.

Taihuttu said which has two hiding places in Europe, two in Asia, one in South America and one in Australia. All wallets are physical, so-called hardware wallets, without an internet connection. Thus, he believes that it has greater security and prevents possible hacker attacks.

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The family stored their wallets in a variety of common places, such as rented apartments, friends’ houses and warehouses.

For the family, the decision was not an enrichment plan, but a radical change of life based on a political-economic ideology. “I prefer to live in a decentralized world where I have a responsibility to protect my capital,” said Taihuttu.

The way the Taihuttu family uses to store cryptocurrencies is common, especially among those who do not trust 100% digital wallets and brokers to manage their money, the television network’s report points out.

Hardware wallets physically store bitcoin and other cryptocurrencies, but they are more difficult to manage and require greater responsibility. If the device, similar to a pen drive or external hard drive, is lost, the bitcoins are lost forever.

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