The Wealthy Are Hoarding $10 Billion of Bitcoin in Bunkers.
Behind the guards, the blast doors and down corridors of reinforced concrete, sit the encrypted computer servers — connected to nothing — that hold keys to a vast digital fortune.
“I am personally allocating a percentage of my net worth to this that is borderline irresponsible because I believe in it so much.” Wences Casares
Argentine entrepreneur Wences Casares has spent the past several years persuading Silicon Valley millionaires and billionaires that Bitcoin is the global currency of the future, that they need to buy some, and that he’s the man to safeguard it. His startup, Xapo, has built a network of underground vaults on five continents, including one in a decommissioned Swiss military bunker.
In the rarefied world of wealth management, Xapo is known for a client list studded with family offices, and for occasionally letting a journalist peek into a stronghold to write about its security. But one secret has proven elusive: how much digital cash does it really hold?
Two Xapo clients said it houses roughly $10 billion of Bitcoin. Another person close to the venture called the figure an accurate approximation. Bitcoin’s price, after all, is hardly steady.
The Comisario Vault
Just kidding about the Comisario, but it is is our favorite Tequila and if we were going to use maximum security storage for any Spirits, Comisario would be it.