In 2017, Didi Taihuttu, along with his wife and three kids, liquified all their assets and bought bitcoin worth $900 which has sky-rocketed in terms of profit since then. The Dutch family now have secret vaults on four different continents with about six different hiding locations where they are safeguarding their assets from prying eyes.
Two secret locations are in Europe, two in Asia, one in South America and another in Australia. The crypto wallets aren’t buried underground or hidden in inconvenient places, rather they are securely placed in a variety of different locations ranging from rental apartments to friend’s houses and self-storage sites. “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,” explained Taihuttu.
There are two ways to store bitcoins; hot and cold storage. Hot storage refers to a crypto wallet that is connected to the internet and allows easier access to the owners in their crypto expenditure. The downside of it being available online is that it’s prone to hackers and theft. On the other hand, in cold storage, the private keys of the wallets holding the coins are not connected to the internet which decreases the risk of malicious attacks but it also makes it inconvenient for the owner to access them and retrieve the coins as it mostly requires the owner’s physical presence.
This is one of the reasons why Taihuttu is trying to put a crypto cold wallet on each of the continents so it’s easier to access them since around 74% of the family’s crypto is in cold storage. While the other 26% crypto holdings are used by Taihuttu for day trading and more investing. The Dutch family already has cold wallets in four different continents and is already planning to move it to the other three as soon as possible.