Can anyone guide me to information on how large corporates store their bitcoin. I am thinking that as this becomes more and more common, their maybe some cool bitcoin job opportunities.
Discussion
Usually it’s going to be spread across multiple wallets, each using multisig (most likely 3 or 5 of…), usually one or more sigs will be a board member…
And not all, if any, wallets would be publicly disclosed.
If looking for job in this area, I’d
1. Position myself as a consultant
2. Target small to medium businesses (too long of sales cycle and red tape with larger corps)
3. Produce content on how SMBs can utilize the same strategy as Saylor, other large companies, and sovereign wealth funds/governments…basically transpose the model from large biz to small biz. Anchor on the fact that on a ratio basis an SMB can be more efficient.
4. Gain skills on how to account for BTC on books.
Large corporations that hold Bitcoin typically use a combination of custodial and non-custodial storage solutions to ensure the security of their assets. These methods are designed to balance security, accessibility, and compliance. Here’s an overview of how they generally store their Bitcoin:
1. Custodial Solutions:
• Third-Party Custodians: Companies like Coinbase Custody, BitGo, and Gemini Custody provide secure storage services.
• Multi-Signature Wallets: These wallets require multiple private keys for a transaction to be authorized, adding an extra layer of security.
• Insurance Coverage: Some custodial services offer insurance against theft or loss, which is critical for corporate clients.
2. Non-Custodial Solutions:
• Cold Storage: Private keys are stored in offline environments (e.g., hardware wallets, air-gapped computers) to prevent hacking.
• Multi-Signature Setups: Companies often use in-house multi-signature configurations for added security.
• Secure Facilities: Private keys are sometimes stored in secure physical vaults with biometric access and monitoring.
3. Hybrid Approaches:
• Some corporations use a mix of custodial and non-custodial solutions, with a portion of their Bitcoin in cold storage and another portion accessible for quick transactions (hot storage).
4. Regulatory Compliance:
• Corporates must ensure that their Bitcoin storage methods comply with financial regulations in their jurisdiction (e.g., SOC 2 compliance for security).
Will read prop tomorrow. Good start