In 2017, Didi Taihuttu decided to sell everything he, his wife and three daughters had to invest in bitcoin. At the time, each unit of the cryptocurrency cost US$ 900. The move was very worthwhile, considering that, at today’s price, the asset is valued at around US$ 44,000 — and that, to protect its assets, the “Family Bitcoin” hides most of its fortune in vaults spread across four continents, CNBC.
According to Taihuttu, two locations in Europe, two in Asia, one in South America and one in Oceania have become perfect hiding places. “I hid cold wallets in several countries so I never have to fly too far if I need to access them, in order to get out of the market,” he explains in an interview. Cold wallets, just out of curiosity, are those that remain offline and need access 74% of the family’s sum is deposited in them, also made up of ethereum and litecoin.
There are plenty of options for those who want to ensure that virtual currencies stay away from eventual thefts carried out through the network, as even banks offer their services to keep them safe. Didi, however, doesn’t like that kind of approach. “I prefer to live in a decentralized world, where I have the responsibility to protect my capital”, he points out.
“Bitcoin Family” has a fortune spread around the world.Source: Didi Taihuttu/Reproduction
thinking about after
Recently, the blockchain platform Chainalysis released a survey that reveals some interesting data about bitcoin. According to the survey, 11.8 million units are in the hands of long-term investors, 3.7 million lost and another 3.2 million circulating among merchants. In addition, the remaining 2.4 million need to be mined.
Clues indicate the “cold” and “hot” portion of this sum, as do movement patterns, but there is no way to be sure of anything. Taihuttu, even so, clarifies that 26% of his cryptocurrencies fall into the second category and that he treats them as venture capital – geared towards trading and some betting. At one point, he says, he sold dogecoin at a profit and repurchased it after a substantial devaluation.
Most of your cryptocurrencies are found in cold wallets.Source: The Bitcoin Family/Instagram/Reproduction
In any case, Didi admires centralized storage companies aimed at the storage of cold wallets, whose operations differ from traditional institutions. “They have great inheritance procedures. When you die, those companies handle it too. I really believe they’re doing a good job,” he defends, as he keeps his treasures in them, in rented apartments and at friends’ houses instead of leaving them within reach of governments.