In October 2017, Netherlands native Didi Taihuttu and his family sold all their valuable belongings and their house for bitcoin. The Taihuttu family recently moved to Phuket after their decision was a success. They have traveled around the globe and now own bitcoin. On Nov. 30, the 44-year-old Didi Taihuttu told CNBC that after storing crypto in cold storage, centralized exchange (cex) platforms, and decentralized exchange (dex) protocols for years, the Dutch family has decided to proactively transfer $1 million in digital assets to dex protocols in order to have more control via self-custody.

Didi Tahuttu and his Family Take Proactive Steps to Protect Their Crypto Assets

Just over five years ago, Bitcoin.com News reported on the Taihuttu family after they decided to sell their home, children’s toys, and vehicles so they can accumulate bitcoin (BTC). On Wednesday, the patriarch of the family, Didi Taihuttu, spoke with CNBC and explained that the family is moving $1 million in crypto assets to dex protocols following the FTX collapse.

Taihuttu explained that the family had previously stored a small amount of their funds on trading platforms such as Kraken and Bybit before they decided to move the funds to dex protocols. Taihuttu stated that if you don’t send bitcoins to exchanges, your bitcoin will remain in your wallet. This means you retain full custody of your coins. [But] You connect to a dex and trade from your own wallet .”

Taihuttu continued:

If the dex collapses, it doesn’t matter, because the bitcoins are always in your own wallet.

Taihuttu explained that he learned his lesson in 2017 when the cex platform Cryptopia was hacked and he lost four bitcoins. Taihuttu stated that he was constantly searching for alternative options since that time. As far as FTX is concerned, Taihuttu insisted that “too many influencers were paid too much money to promote that one.” The family would not disclose how much they owned in crypto assets but they did say roughly $1 million worth of BTC, ETH, LTC, DOT, and other tokens would be moved to decentralized exchanges.

Taihuttu said that the drama surrounding FTX is very similar to other bitcoin cycles. We seem to learn that lesson every cycle of bitcoin. “It was Mt Gox. It was banning bitcoins in China. It was banning mining. He said that there is always drama. Taihuttu wholeheartedly believes BTC is holding steady, and simply doing what the leading crypto asset always does.

” “Looking at the present situation: We have a war going on. We have a financial crisis. We have FTX. We have Celsius. There are a lot bear market signals,” Taihuttu stated to CNBC. “I think that bitcoin is really holding strong at $16,800. “I believe bitcoin is still doing perfectly and doing what it always has: Being a decentralized currency that can be used by everyone all over the globe,” Taihuttu said during Wednesday’s interview.

What do you think about the Taihuttu family’s progress and the family moving $1 million from cex applications to dex protocols? Please leave your comments below.

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