The bizarre world of bitcoin inheritance

Recode Daily

Recode

Society & Culture, Science, Technology

4.6 • 1.3K Ratings

🗓️ 7 April 2022

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Inheriting crypto is more complicated than it sounds. Recode's Rebecca Heilweil explains. Read Rebecca's story: https://www.vox.com/recode/22971265/bitcoin-wills-estate-planning-cryptocurrency-nfts-death Today’s episode was produced by Taylor Maycan, engineered by Melissa Pons (Hemlock Creek Productions) and hosted by Rani Molla. Support Recode Daily by making a financial contribution to Vox! bit.ly/givepodcasts This episode was first published March 2, 2022. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Think about cheese.
0:02.1	Make your thoughts cheesier.
0:04.2	Now add 100% chicken breast fillet,
0:06.3	Chipotle sauce and Amadea cheese melt.
0:08.3	And it's giving the new cheesy chicken stack at McDonald's.
0:12.3	Did we mention it's cheesy?
0:13.9	Cheese.
0:15.8	Availments at the 4th of Jan, 226 from 11am.
0:18.1	Plus and participation may vary.
0:19.2	Subjects availability.
0:24.4	It's Rico Daily. I'm Ronnie Mola, joined by Rico's Rebecca Heilweil. Hey, Rebecca. Hey.
0:30.0	You've recently spoke to a bunch of people who are getting into cryptocurrency and building up their NFT fortunes.
0:34.9	And they told you about a problem they're having with planning for the future,
0:37.8	one that hadn't really crossed their minds when they started banking on the blockchain. What's going
0:42.1	on? Yeah. So if you don't already own crypto yourself, the odds are right now is that you're
0:47.6	related to someone who does. But people are realizing that should something bad happen to them,
0:53.3	they don't necessarily have in place
0:55.2	a plan for their crypto to make sure that it goes to their loved one. Turns out actually estate
1:01.3	planning for your cryptocurrency or what happens to your Bitcoin after you die, it's a bit more
1:06.3	complicated than just writing in your wool, hey, give my crypto to my next of kin. I'm curious, how many
1:11.9	Americans own crypto? About 16% of people in the United States have used crypto. You know, a lot of people
1:18.8	are investing it right now. As you remember, it was all over the Super Bowl ads. It's new and exciting,
	...

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