David Schwartz Drops a Radical Bitcoin Vault StrategyEnglish 日本語한국어繁體中文ไทยPortuguêsItalianoDeutschFrançaisEspañolDavid Schwartz, Ripple board member and CTO Emeritus, posted a Bitcoin cold-storage inheritance plan on X on 3 August 2026 that splits wallet access among four trusted people. The proposal arrived days after a Coldcard firmware flaw resulted in 1,367 BTC worth approximately $89 million from 4,585 addresses. A $89 Million Firmware Flaw Reignited Custody FearsSchwartz’s post landed in the middle of a live crisis. Any single relative who obtains a PIN, through social engineering or a compromised friendship, gains full control. Analysts at Chainalysis have estimated that between 2.3 million and 3.7 million BTC are permanently lost, with inheritance failures accounting for a meaningful share of that total.