Xapo CEO Wences Casares (Argentina) has spent years convincing millionaires and billionaires in Silicon Valley that Bitcoin is the currency of the future, they need to buy some and Casares himself will be the one to protect them.

In the asset management world, Xapo is famous for its list of wealthy and powerful customers, and occasionally allows reporters into the vault to learn about security here.

However, holding up to 7% of global Bitcoin is a very impressive number.

Xapo has a network of underground bunkers on 5 continents.

It also shows how much trust Casares has earned from people and major digital currency investment companies, such as Grayscale or CoinShares.

The first rule when owning Bitcoin is to ensure the safety of your private key.

So the most popular alternative is cold storage – storing keys in unconnected devices.

Underground vault stores $10 billion in Bitcoin for the rich

Xapo CEO Wences Casares strongly believes in Bitcoin.

Xapo’s solution is to put them in underground bunkers in mountainous areas, and apply a series of layers of electronic protection.

Casares, 44 years old, is hardly open to the media.

Xapo is aggressively pursuing institutional customers.

Casares made it his lifelong vision to help Bitcoin gain acceptance.

In 2000, he sold 75% of Patagon – a financial services website for $529 million.

Bitcoin’s meteoric rise in recent years has sparked the emergence of more sophisticated competitors, such as Ethereum and Ripple – both with billions of dollars in capitalization.

However, their own leaders also hesitated many times.