Block's Bitkey rolls out bitcoin inheritance fix for 'multibillion-dollar problem waiting to happen'

Jack Dorsey, co-founder of Twitter Inc., speaks during the Bitcoin 2021 conference in Miami, Florida, U.S., on Friday, June 4, 2021. For over a decade, bitcoin has been lauded as a revolutionary financial asset — decentralized, self-sovereign and resistant to confiscation — all contributing to an astronomical increase in value. But one problem has remained largely unsolved: What happens to your bitcoin when you die? While traditional financial institutions allow for the seamless transfer of stocks, mutual funds and retirement plans, bitcoin’s self-custodial nature makes inheritance and estate planning inherently thorny. Coinbase requires probate court documents and specific will designations before releasing funds, while physical wallets offer little to no support, potentially leaving all that digital value stuck on a private key. Jack Dorsey's Block says it's created a fix, and the company is now bringing it to market. In November, Block's Bitkey self-custody bitcoin wallet intro ... Read full article.