Ledger co-founder Eric Larchevêque says Bitcoin (CRYPTO: BTC) is not a path to quick wealth but a way to protect the “fruit” of one’s work in a world where bank deposits, gold custody and fiat savings depend on third parties.
What Happened
In an interview with “When Shift Happens” on June 25, Larchevêque said his conviction in Bitcoin was shaped by early experiences with the traditional financial system.
He recalled losing access to funds after a Latvian bank failed and later being denied physical access to gold bars held through a Luxembourg bank, which instead liquidated the gold and wired him euros.
Those experiences, he said, made him realize the difference between assets investors think they own and assets they control.
“Bitcoin solves the problem of owning your money,” Larchevêque said, arguing that bank balances are ultimately claims on institutions, while Bitcoin held in self-custody is a final asset.
Larchevêque said he began moving heavily into Bitcoin around 2014, eventually placing almost all of his liquid net worth into the asset.
He said he does not measure his wealth in euros but in the number of Bitcoins he owns.
Ledger, Self-Custody And Risk
Larchevêque said Ledger was built to help users secure crypto assets, but added that self-custody requires personal responsibility.
He warned investors never to share their 24-word recovery phrase and said large holders should avoid keeping direct access to their full holdings at home.
He also discussed the kidnapping of Ledger co-founder David Balland, who was tortured while criminals demanded a €10 million Bitcoin ransom from Larchevêque.
The incident, he said, showed that physical security has become a major issue for visible crypto holders, especially in France.
Long-Term View
Despite Bitcoin’s volatility, Larchevêque said the only workable strategy is long-term conviction.
He advised ordinary investors not to copy his all-in approach, but instead to build a disciplined Bitcoin strategy through regular accumulation and only with money they do not need for daily life.
“The only people I know who had success with Bitcoin investment are the ones who forgot about it,” he said.
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