In 2017, before the cryptocurrency frenzy began, Didi Taihuttu made the decision of a lifetime: he sold all his assets and bought Bitcoin… at $900. Perhaps he was super happy a few months later when he achieved a 20X ROI, but now, with each coin trading above $46,000, Taihuttu has to think very hard about how to protect his fortune, considering that he is his own bank.

The way he safeguards his assets, as he told CNBC, involves making it virtually impossible to access his funds by using the entire world as his personal vault:

“I have hidden the hardware wallets across several countries so that I never have to fly very far if I need to access my cold wallet, in order to jump out of the market,”

The World Is Your Bank When You Have No Bank

Taihuttu does not want to reveal the amount of money he has, but it was known at the time that he put his house up for sale for 85 BTC. He also sold his car, motorcycle, his daughters’ toys, and even some household items.

Now, he spends his time traveling the world, taking pictures of himself wearing Bitcoin clothing, and offering consulting services. He has no major bank accounts, and his money is stored in at least 6 wallets distributed in Europe, Asia, South America, and Australia.

Taihuttu’s idea is to have at least one wallet in each continent. The only way to access those funds is to travel specifically to the location of the hard wallet, so this decision, although eccentric, is also practical considering his needs.

As he tells CNBC, he does not even rely on banking solutions for the custody of his hard wallets, which he hides in places as random as rental apartments or friends’ houses.

These wallets account for 74% of his funds. The other 26%, Taihuttu has in hot wallets that he uses to enjoy life, exchanging Bitcoin when he needs it.

Taihuttu Loves Bitcoin, But He Is No Maxi

In addition to Bitcoin, Taihuttu holds Litecoin and Ethereum. Clearly, he ought to have a significant amount of Bitcoin Cash tokens considering he bought Bitcoin before the fork; however, he has not disclosed such information.

Taihuttu has no plans to change either his lifestyle or his investment strategy. Just as Tom Lee, he also expects Bitcoin to reach at least $100K soon, at least according to an interview from 2020, although he is not afraid of drastic drops.

And so far, things seem to be going very well for him. Investing in Bitcoin has undoubtedly been the best financial decision he has made, and he does not hesitate to assure the media that Bitcoin is the gold of the 21st century.

• Altcoins break off from Bitcoin as the crypto market regains the losses incurred in May.
• Ethereum settles above $3,200, but bulls have eyes on $3,600 and $4,000.
• MATIC soars over 22% to trade at $1.5 for the first time since June 18.

Altcoins have this week made great strides while Bitcoin remained under $47,000. However, the flagship cryptocurrency has sustained the price above $45,000, allowing bulls time to regroup for the ultimate rally beyond $50,000.

Intriguingly, some selected altcoins quickly became the darlings of the cryptocurrency market, including Ripple with its break above $1, Cardano, Polygon (MATIC), and TRON.

Ethereum:-

Ether made its way above $3,200 on Wednesday but stalled around $3,260. Investors anticipated a fast run-up to $3,600 before Ethereum stretched the bullish leg to $4,000.

However, the gigantic smart contract token failed to gather enough strength to sustain the uptrend. Meanwhile, ETH is pivotal at $3,200 while bulls battle to keep the uptrend going.

Realize that the overall technical picture favors the buyers, especially with the Moving Average Convergence Divergence (MACD) indicator having maintained a buy signal since July 22. Additionally, the MACD continues to move higher above the mean line; thus, reinforcing the bullish outlook.

A confirmed breakout above $3,200 would boost the price significantly upward. In turn, more buyers will be called into the market as speculation for Ether’s rise to $4,000 intensifies.

On the other hand, traders must know that the Relative Strength Index has settled above 70 but not highly. Therefore, bulls still have room to explore, but a correction still lingers due to the imminent overbought conditions.

ETH/USD Daily Chart

MATIC:-

Polygon sunk to $0.62 in July but recovered a considerable chunk of its value. Initially, the recovery stalled between $1 and $1.1. For nearly three weeks, MATIC danced between the upper and the lower limit.

A recent break above $1.1 triggered massive gains as expected, with buyers streaming in to take advantage of the general altcoins’ uptrend. Polygon continued with the upswing past the 100-day Simple Moving Average (SMA), allowing gains to touch $1.5 for the first time since June.

MATIC/USD Daily Chart

Despite the technical leaning to the bullish side, Polygon has slowed down the price action. Currently, the token teeters at $1.415 as bulls gaze at lifting to $2 in the coming sessions or few days.

About Author

John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

The market-leading South Korean crypto exchange Upbit has found itself involved in a series of legal struggles with the issuers of some of the tokens it delisted earlier this summer.

Sponsored Links

As previously reported, the nation’s biggest trading platforms went on a series of unexpected, late-night altcoin culls – with some analysts suggesting they have been trying to appease regulators with their zeal for removing questionable tokens.

But others suggest that they have been going overboard with their efforts – removing perfectly well-performing, above-board tokens along with projects exhibiting lower levels of activity. They claim that Upbit and its rivals have failed to sort the wheat from the chaff in their hurry to slim down their coin offerings.

The regulatory Financial Services Commission itself appeared to have been blindsided by the alacrity of the delistings.

Per KBS, Upbit has most recently found itself locking horns with the Pica Project, the operator of the pica token and a digital asset-powered art platform.

Pica was one of the tokens Upbit removed in a wider cull back in mid-June, giving investors just a week to remove their holdings from the trading platform.

The Pica Project immediately followed up the announcement by applying for an injunction against Dunamu, the Upbit operator. Pica had asked a branch of the Seoul District Court to order Upbit to suspend its decision to terminate support for its token.

But it appears that Upbit has won this battle, for the time being, ruling against the injunction request this week.

Dunamu was quoted as stating that the court had “recognized the need for policy to grant discretion to exchanges’ decisions to continue offering transaction support.”

The firm also noted that the court had ruled that it was “necessary to respect that” exchanges were free to use their own “judgment” in such matters unless “special circumstances” arose.

Dunamu has had to make regular visits to the Seoul District Court in recent weeks, with other token operators also attempting to lodge similar injunctions since June. The firm has also had to fight against an injunction request from the Go Money 2 token (GOM2) operator AnimalGo.

The rate of delistings has slowed somewhat since June, but investors have complained on web forums, stating that there is “no legal basis for delisting” and that many of the delistings were made in an “arbitrary” manner.
____
Learn more:
– Smaller South Korean Crypto Exchanges Begin to Shutdown, Suspend Services
– Crypto Exchange Korbit Charged for ‘Excessive Customer Data Collection’
– South Korean Customs Officers Close Net on ‘Kimchi Premium’ Offenders