Ripple CTO Reveals Inheritance Plan for Bitcoin Cold Storage

TLDR

• David Schwartz proposed a split-control system for secure Bitcoin cold storage and inheritance.
• The plan uses two hardware wallets configured with the same 24-word seed phrase and PIN.
• Two relatives would hold the devices, while two trusted friends would separately hold the PIN.
• No single person could access the Bitcoin without cooperation from another trusted party.
• The Coldcard wallet hack renewed debate over hardware wallets, paper storage, and seed phrase security.

XRP Ledger co-creator David Schwartz has proposed a Bitcoin storage plan after the Coldcard wallet hack renewed concerns about hardware security. His approach divides control between relatives and trusted friends, limiting access during the owner’s lifetime while supporting inheritance.

The proposal uses hardware wallets, one shared seed phrase, and a separated PIN. Schwartz compared the structure to a “nuclear briefcase” because no single person can unlock the funds alone.

Coldcard Wallet Hack Fuels Storage Debate

The Coldcard wallet hack reportedly began with a firmware flaw that created predictable seed phrases. Attackers then drained more than 4,500 addresses and stole 1,367 BTC, valued near $89 million.

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