‘Cryptofamily’ Taihuttu hides fortune on four continents | Financial

The Taihuttu family gained fame when they sold their possessions in the Netherlands and invested the money in bitcoins in 2017 to go on a world trip.

The coins then cost around $900 each. Bitcoin is currently trading at $46,600 each.

Now the Dutch family keeps most of its crypto fortune in secret vaults, father Taihuttu told business channel CNBC on Wednesday. They are located on four different continents.

“I have the hardware-wallets (digital wallets, ed.) hidden in different countries, so that I never have to fly far if I need access to my wallet and then jump out of the market,” Taihuttu explains the strategy to CNBC.

Multiple continents

Taihuttu has built wealth in Europe, Asia, South America and Australia.

The family tells CNBC that the crypto stock is hidden in various ways and in various locations, such as in rented apartments and friends’ houses to a storage shed.

The family holds 26% of the crypto capital for day trading, according to CNBC. Taihuttu put money in the popular crypto dogecoin, among other things. He was able to sell them for a profit, then buy them back when the price of the dogecoin crypto promoted by Elon Musk had bottomed out.

The other 74% of Taihuttu’s total crypto portfolio is in so-called cold storage, the family said. These are digital wallets on hardware, for example a stick or special highly secured wallet systems.

Cold Storage

Of such cold storage gaining popularity among users, who want to take the coins and keys offline.

Many owners who want to keep their purchases safe for the long term use such storage, because it has turned out to be digitally unbreakable.

The family declined to tell CNBC exactly how much it holds in crypto.

Does it still make sense to buy bitcoin? That’s what our DFT reporters discuss in a new episode of the podcast ‘A matter of cents’:

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