The incredible story of a family who made their fortune with Bitcoin and went around the world!
f this family had not made a fortune with Bitcoin, we could say that this story is “commonplace”! The Taihuttu family is famous on the web for having made a fortune with Bitcoin and started travelling around the world. Take a look back at this incredible family story… and cryptos!
The Taihuttu family bet everything on Bitcoin when it was at $ 900 in 2017!
The Bitcoin history of the Taihuttu family dates back to 2017. At that time, this family of three children made a crazy bet! They decide to sell everything to buy Bitcoin and go around the world! At that time, the price of Bitcoin was around $ 900 (€ 767)! They won't have to wait long to make their fortune! At the end of 2017, Bitcoin began a bull run which will propel its price to more than € 15,000!
Then, in 2018, the price of Bitcoin plunged again. The family then decided to add even more Bitcoin to their wallet. More than 4 years (and 40 countries) later, almost nothing has changed for the Taihuttu family! She still does not have a fixed address or even a bank account! So how does it manage its dematerialized assets?
How does the Taihuttu family store their precious cryptos?
Didi Taihuttu recently provided information on how the family is handling their cryptos. The family owns Bitcoin, Ethereum, and Litecoin.
Centralization VS decentralization
When it comes to storing financial assets, the question now arises: centralized system or not? For the Taihuttu family, no doubt! As for many crypto investors, there is no question of leaving their precious sesame in the hands of a bank or a post office! In the event of a problem or bankruptcy, the risk is no longer having control over the funds. Also, the globetrotting family prefers off-system solutions.
Cold storage VS hot storage
The Taihuttu family has chosen to store their cryptos on a mixture of physical and electronic media . Physical wallets or “cold storage” look like USB keys. These are used to hold the private keys giving access to your crypto funds. The advantage of cold storage is that it is not connected online. Your funds are thus fully protected against any cyberattack. Conversely, electronic media or “hot storage” are connected wallets. Ideal for trading, they nevertheless present more risks.
The rest of their cryptos, or 26% of their funds, are stored in hot storage. The goal for them is to be able to do daily trading. For example, recently they had a great deal of selling and redeeming Dogecoin at the right time.
The price of Bitcoin is on the rise!
The history of the Taihuttu family obviously remains a rare case. Yet, to some extent, many investors who bet on Bitcoin early may find their way there. What is it now?
After complicated months of May and June, the price of Bitcoin seems to be getting off to a good start. With a current price of around 38,120 €, BTC is over 16% over the last 7 days. Over the last 60 days, the price of Bitcoin has increased by 24%.
Some analysts see it as a return to the bull run, which brings hope to Bitcoin investors. So Bloomberg analyst Mike McGlone envisions Bitcoin around $ 100,000 by the end of 2021. In all this, what does Didi Taihuttu think of? Last December, in the midst of the bull run, he expected Bitcoin to be around $ 100,000 or even $ 200,000 by 2022. Admittedly, Didi Taihuttu is not a financial analyst, but many would say that he had a hollow nose in the past …
