Bitcoin cold storage plan revealed by David Schwartz

David Schwartz, an XRP Ledger co creator and current Ripple board member, proposed a Bitcoin inheritance setup on Aug. 3 that separates access to duplicate hardware wallets from the PIN needed to unlock them. Summary David Schwartz proposed giving two duplicate Bitcoin wallets and their shared PIN to separate people. The setup uses one seed across devices, so it remains a single signature wallet structure. Four suspected Coldcard waves moved about 1815 BTC from more than five thousand addresses overall. Coinkite says fixed firmware protects new seeds but cannot repair phrases generated on affected devices. Multisignature inheritance systems require separate keys, unlike duplicate devices sharing one recovery phrase between them. His post followed a renewed debate over paper backups after the Coldcard firmware failure. Ripple identifies Schwartz as an original XRP Ledger architect, while its current leadership page lists him as a board member. Schwartz described the idea as “one way” to handle inheritance, not as a finished product or guaranteed security model. He suggested loading the same 24 word recovery phrase onto two additional cold wallets, setting the same PIN on both, givin...