Schwartz Proposes Inheritance Setup for Bitcoin Using Duplicate Hardware Wallets

David Schwartz, co-creator of XRP Ledger and Ripple board member, proposed an inheritance setup for Bitcoin. This setup involves two duplicate hardware wallets sharing the same recovery phrase and PIN, but access is split between relatives holding the devices and friends holding the PINs.

The method aims to secure Bitcoin access after death without using multisignature wallets, which require separate keys. This approach follows security concerns after a Coldcard firmware flaw exposed some wallets to theft.

However, this setup depends on trust and coordination among parties and does not guarantee security like multisignature systems. Legal and procedural steps remain essential for effective inheritance planning.