The Dead Man’s Crypto Conundrum
The Signal: Living through a global pandemic forces us all to reckon with our own mortality. Social distance is getting in the way of people writing their wills, so “online will template” has joined the ranks of queries picking up steam in recent weeks. People want to ensure that their loved ones are taken care of and that their estates get passed on effectively.
Companies that provide cryptocurrency inheritance solutions have seen a surge in new sales as a result of the pandemic. We interviewed Nick Neuman, the CEO of Casa, a cryptocurrency custody startup. He says that Casa tripled sales of its “Diamond” product in the first 3 weeks of March compared to January and February combined. Diamond is the company’s premium offering, which gives clients access to Casa’s inheritance solution.
In addition, in Q1 the company has seen a 40% increase of the amount of cryptocurrency that clients are holding. Neuman says his team is bracing for an increase in new investors as more people start to use cryptocurrency as a hedge.
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