E274 How Will Your Executor Handle a Bitcoin Crash?

<p>How will your executor handle a Bitcoin winter (or crash) like the one we’re living through now? We’ll compare a few likely scenarios depending on who you’ve chosen as your executor.</p> <p>But first, a few assumptions:</p> <ol> <li>You’re a “maxi” (a Bitcoin maximalist – someone who really values Bitcoin in and of itself, and not just its conversion to dollars);</li> <li>You want your heirs to inherit the actual Bitcoin you’ve accumulated, not just the fiat dollar value on your date of death; and</li> <li>You believe Bitcoin’s value in dollars will probably be very volatile for several more years. You understand that even if it’s “down” during your probate, you want your executor to hang on to it.</li> </ol> <p>So here are a few scenarios:</p> <h2>Professional executor, but doesn’t “get” Bitcoin</h2> <p><img class="aligncenter size-medium wp-image-42480" src= "https://anthonyspark.com/wp-content/uploads/2022/07/Professional-executor-but-doesnt-get-bitcoin-300x169.jpg" alt="Professional executor, but doesn’t “get” bitcoin" width="300" height="169" /></p> <p>There are many attorneys and banks who are savvy in executorship and probate. In fact, banks have whole departments with trust officers that handle this. Once you find these experienced folks, do they have knowledge of Bitcoin? Maybe, but they probably have knowledge of crypto in general.</p> <p>Bitcoin maximalists consider themselves separate from the rest of the crypto universe. If your professional executor has only a light understanding of crypto in general, they will associate Bitcoin with the current crypto crash. During a crash, can they withstand psychological pressure to sell? Probably not. That’s the most likely outcome with a professional executor that doesn’t understand Bitcoin like you do.</p> <h2>Maxi amateur executor</h2> <p><img class="aligncenter size-medium wp-image-42481" src= "https://anthonyspark.com/wp-content/uploads/2022/07/Maxi-amature-executor-300x169.jpg" alt="Maxi amature executor" width="300" height="169" /></p> <p>Say you chose