The Bitcoin Family rose to international prominence after a Dutch family of five (parents Didi and Romaine Taihuttu, and their children Joli, Juna, and Jessa) sold everything they owned in 2017 to invest everything in bitcoin (BTC) at a time when it was trading for around USD 900, and live solely off crypto trading. Since then, the family has traveled over the world, and in order to protect its livelihood, it prefers to deposit their crypto riches in secret vaults located on four continents rather than in hot storage.
“I have buried the hardware wallets across multiple countries so that I never have to fly very far if I need to access my cold wallet to leap out of the market,” Didi explained to CNBC.
The father of three acknowledged that the family had two safe havens in Europe, two more in Asia, one in South America, and one in Australia. Its crypto stashes are spread throughout rental apartments, friends’ homes, and self-storage facilities.
“I prefer to live in a decentralized environment where I am responsible for protecting my capital,” he explained.
About 26% of the Taihuttu family’s bitcoin holdings are in hot, or online wallets, which Didi refers to as “risk capital” that he uses for day trading and potentially risky bets, such as when he sold his dogecoin (DOGE) holdings for a profit and then bought it back when the cryptocurrency’s price fell.
The remaining 74% of the Bitcoin Family’s crypto assets are stored in cold storage, in hardware wallets located around the world.
This is a slight rise from Didi’s 2019 interview, in which she stated that 70 percent of the family’s cryptocurrency was cold-stored.
Didi proclaims his intention to set up a cold wallet on every continent so that the family’s cryptocurrency may be accessed more easily. While the family refuses to reveal the value of its portfolio, it does state that its crypto holdings include bitcoin, ethereum (ETH), and some litecoin (LTC).
When asked if she used banks or post offices, Didi said it was too risky and inquired:
“What happens if one of these businesses goes bankrupt?” What happened to my bitcoins? Will I be able to use it? You have once again placed your capital in the hands of a centralized organization.”
Having said that, he acknowledges that some centralized cold storage companies provide a major advantage.
According to Didi, “they have magnificent settings for inheritance.” “When you die, these companies handle it as well, and I truly believe they are doing an excellent job.”
The Bitcoin Family. Source: a video screenshot, Youtube, The Bitcoinfamily