Michael Saylor: "I Lost 90% of My Money Overnight" - Protect Your Bitcoin With a Hardware Wallet

With financial uncertainty and increasing government control over banking systems, self-custody of Bitcoin has never been more important. A hardware wallet ensures that you own your private keys and protects your assets from third-party risks.

As financial uncertainty looms and government control over banking systems intensifies, self-custody of Bitcoin has become paramount. A hardware wallet ensures your private keys remain solely in your possession, safeguarding your assets from third-party risks.

Let's delve into the compelling reasons why storing your Bitcoin securely is a non-negotiable in today's financial landscape.

Hardware wallets manufactured by Ledger are widely regarded as the safest and most reliable way to store Bitcoin and other crypto assets. As long as the seed phrase storage is handled with care, there's no way that any malicious actor or software could endanger the safety of your crypto.

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Michael Saylor: “I Lost 90% of My Money Overnight”

In an interview with Tucker Carlson, Michael Saylor shared a shocking personal experience of government asset seizure in Argentina:

“I had a million dollars in a bank in Argentina 20 years ago. It was in U.S. dollars. The peso was one to the dollar. The Argentine government sent a memo to the banks, forcibly converted everybody's dollars to pesos, and then forcibly devalued the peso, ten for one. I woke up the next morning and I had $100,000.”

90% of his wealth was gone overnight – with no law, no military intervention, just a simple fax to the banks.

Saylor used this example to highlight Bitcoin's unique protection against confiscation:

“Now, how hard would it be to take all of the property of everybody in the country with Bitcoin? You have to go arrest 60 million people and sweat them all in jail for 90 days. It's a billion times harder.”

With Bitcoin, only you control your private keys – unless you give them to an exchange or third party.

🔥 Michael Saylor: “I lost 90% of my money overnight in Argentina.” His lesson? #Bitcoin can't be seized like fiat in a bank. A hardware wallet ensures only you control your $BTC. 🔒 “Not your keys, not your crypto.” #Bitcoin #Crypto #SelfCustody pic.twitter.com/jUHP67OQc5

Obama: “Bitcoin Wallets Are Like Swiss Bank Accounts in Your Pocket”

Former U.S. President Barack Obama has also recognized the power of Bitcoin wallets for financial independence:

“Everybody's walking around with a Swiss bank account in their pocket.”

This statement underscores how Bitcoin wallets give individuals full financial control, much like Swiss banking once did for the ultra-wealthy. Now, anyone with a Bitcoin wallet can secure their wealth globally.

However, how you store your Bitcoin matters. If you keep your BTC on an exchange, you don't truly own it.

🇺🇸 OBAMA: “Everybody's walking around with a Swiss bank account in their pocket,” referring to Bitcoin. pic.twitter.com/JA34oXApym

“Not Your Keys, Not Your Crypto” – Why You Need a Hardware Wallet

If you don't control your private keys, your Bitcoin can be taken from you—whether through:

A hardware wallet ensures that only you can access your BTC. Even if an exchange goes bankrupt or governments restrict crypto trading, your Bitcoin remains safe.

Best Ways to Secure Your Bitcoin

Ensuring the safety of your Bitcoin requires self-custody and proper security measures. Here's how to protect your BTC from hacks, exchange failures, and government seizures:

1. Use a Hardware Wallet

A hardware wallet stores your private keys offline, making it immune to hacks, exchange collapses, and online threats. Even if a government restricts access to crypto, you remain in control of your Bitcoin.

2. Store Your Seed Phrase in a Metal Wallet

Your hardware wallet is only as secure as your seed phrase—the backup key that lets you recover your Bitcoin if your device is lost or damaged.

Never store your seed phrase on paper or digitally, as it's vulnerable to fire damage, water exposure, theft & hacking.

Solution? A Metal Wallet. Metal wallets engrave your seed phrase onto stainless steel, making it:

Conclusion: Secure Your Bitcoin Before It's Too Late

If you hold Bitcoin, a hardware wallet and a metal seed phrase backup are essential. Bitcoin is freedom – but only if you control your keys. Don't let an exchange, government, or hacker take what's yours.

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