NewsDialy
A man known for spending 1,500 $BTC on a graphics card has channeled that history into a new venture: Bitsurance, a company that insures bitcoin holders against physical threats including fire, water, robbery, and what the industry calls the "$5 Wrench Attack." The product targets a risk category that traditional insurers have largely ignored — the dangers that exist not in cyberspace but in the physical world where bitcoin holders live.
What Bitsurance Actually Sells Bitsurance covers four categories of physical loss. Three of them — fire, water damage, and robbery — are familiar to anyone who has priced a homeowner's policy.
The fourth is specific to crypto and arguably the most interesting: coerced handover of private keys, marketed under the wrench-attack label. That framing tells you something about the intended customer.
This is not a product for someone keeping a few dollars in a mobile wallet. It is aimed at holders who have enough bitcoin to attract unwanted attention.
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