Let's say you have 5 million dollars in BTC. How do you custody this money?

==== Option 1) Self Custody

Do you use a Ledger Nano S to custody the BTC? Do you have it all in one account or multiple Ledgers?

Where do you store the backup seed phrase? On a titanium plate? Where do you store the titanium plate? In your safe?

What if you go on a vacation and someone decides to try to crack the safe? All they have to do is get in and take a photo of your titanium plate with seed phrase. Then they walk off with all your money.

==== Option 2) Exchange Custody

We know these exchanges can be hacked. Confiscated, etc. This seems more risky than option 1.
Mt Gox was an eye opening story.
What has changed since then? Is there an insurance for BTC that would cover this amount?


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Does the answer to the question change if you have 100 million dollars in BTC?

How is Microstrategy doing the custody of their BTC?