Why I Put $7M+ in Bitcoin on a Public Wallet & Dared AI to Hack It: Mike Belshe — Key Takeaways
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Why I Put $7M+ in Bitcoin on a Public Wallet & Dared AI to Hack It: Mike Belshe
Natalie Brunell1h 14mSep 8, 2026
Watch the originalBitGo's quantum defense is live today — users can scan their wallet for exposed public keys and fix vulnerabilities with one click, buying time before protocol-level quantum resistance is ready.
Key takeaways
Bitco's quantum fix: spend all UTXOs at an address to prevent public key exposure
Bitco's quantum fix: spend all UTXOs at an address to prevent public key exposure
- Elliptic curve keys are quantum-vulnerable only after the public key is exposed on-chain.
- Bitco's wallet now detects exposed keys, lets users fix them with one click, and prevents re-exposure on future spends.
Belshi invented 2-of-3 multisig after storing friends' Bitcoin under his couch
Belshi invented 2-of-3 multisig after storing friends' Bitcoin under his couch
- He was holding Silicon Valley friends' Bitcoin on an air-gapped laptop with a backup in the laundry room — both in the same house.
- He found P2SH (already in Bitcoin for ~9 months) and built the 2-of-3 model: two keys prevent theft, the third prevents loss.
Reserve banks are strictly safer than depository banks — FDIC insurance is irrelevant to them
Reserve banks are strictly safer than depository banks — FDIC insurance is irrelevant to them
- Reserve banks hold assets 1:1 and never lend out deposits, so there is no counterparty risk requiring insurance.
- Warren's 'uninsured' attack is like asking why a non-car-owner lacks car insurance — the risk being insured against doesn't exist.
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In this video
- 1mIntro
- 1mInside BitGo's White House meeting
- 4mAmerica's Strategic Bitcoin Reserve update
- 7mChallenging AI to steal $7M
- 10mCan AI models break Bitcoin?
- 14mSecuring digital assets vs. gold
- 18mCreating 2-of-3 multisig
- 21mSelf-custody vs. institutional custody
- 25mFree institutional security for everyone
- 29mAre institutional treasuries a threat to sovereignty?
- 32mFixing Bitcoin's quantum problem today
- 38mHow multisig protects your keys
- 42mBuilding Netscape, Chrome, and HTTP/2
- 49mHow software is eating finance
- 57mWhy big tech avoids Bitcoin
- 59mThe truth about FDIC insurance
“If you're so great here's 100 bitcoins go get it.”
— Mike Belshi
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