Friday, September 17, 2021
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“When the crypto crash came, we bought more”

Didi Taihuttu: The father of the Bitcoin family. (Photo: Taihuttu / Facebook)

Almost four years ago, the Dutch Taihuttu family sold their belongings and invested in Bitcoin. Since then, the Bitcoin family has been traveling the world and growing their fortunes.

Free yourself from most material goods and only meet basic needs, travel a lot and feel free of ballast – these are probably the motivations of entrepreneur Didi Taihuttu and his family when they sold their house, cars and other luxury goods in 2017 . The Dutch family invested the money – several hundred thousand US dollars according to CNBC – in Bitcoin. Meanwhile the Taihuttus have multiplied their wealth. It is hidden in small tranches on cold wallets around the world.

Bitcoin family fortunes increased sixty-fold

According to a CNBC report, the family of five, now known as the Bitcoin family, is said to have bought the Bitcoins when they were worth just $ 900. At the previous all-time high in spring 2021, there was a sixty-fold increase in assets. The special thing about the Taihuttus is that they are less interested in increasing their wealth than in spreading the idea of ​​decentralized cryptocurrencies. During their travels around the world, the family is said to have tried to pay directly with Bitcoin whenever possible.

In addition, the wealth generated with Bitcoin is not in the bank, but is largely distributed in hardware wallets in various countries around the globe. “I prefer to live in a decentralized world where I have the responsibility to protect my capital,” Didi Taihuttu told CNBC. Meanwhile, a quarter of the money is said to be in hot wallets on several crypto exchanges so that the family can invest quickly in an emergency.

Taihuttu buys when the price collapses

Although the Taihuttus report quite freely about their life as a Bitcoin family on social media such as YouTube or Instagram, they keep the exact amount of their wealth a secret. The only thing that is clear is that Taihuttu trusts that Bitcoin will continue to grow in value, and that price drops like the 2018 crypto crash are primarily used to buy more. At the end of 2020, when the Bitcoin price was still around $ 20,000, Taihuttu forecast an increase to $ 100,000. Nor would he be surprised if the Bitcoin rate rose to $ 200,000 in 2022.

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Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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