People are going to great lengths to protect their bitcoin at a time when it's still valuable. Although the highly volatile coin has plunged from its record high of $19,340 last December, it's still worth just over $6,800 a coin today. But according to research from the digital forensics firm Chainanalysis, 17 to 23 percent of all bitcoin is lost forever.
If you're worried about losing your bitcoin, or simply tired of carrying a wallet, a Dutch bitcoin enthusiast may have a solution for you. Martijn Wismeijer, a marketing manager at the bitcoin ATM manufacturer General Bytes, stores access to his bitcoin in chips that are placed under his skin.
Wismeijer had the chips implanted in 2014 partly because he was curious, he says. But the chips are also a hassle-free way to use bitcoin and are a safer storage device than a digital wallet. Wismeijer can make purchases with the wave of a hand, he can store his recovery password on the chip itself, instead of writing it on a piece of paper that can easily be misplaced, and the chips are difficult to hack, he explains.
In fact, Wismeijer wishes that he had the chip when he started buying bitcoin in 2010. "I can safely say most of the bitcoin, more than 80 percent, I have lost due to hacks, thefts, exchanges gone bad and other problems," he tells CNBC Make It. "If I would've had the chip in 2010, I'd probably be a rich man by now."
Wismeijer did not want to disclose how much cryptocurrency he has on his chip but notes that he doesn't store large amounts because of the attention he has received. To avoid hacking threats or physical threats, Wismeijer stores just enough for a few beers or a coffee.
"I know a lot of people that do have substantial amounts of storage," he adds. "But they're a bit more discreet about it and not the whole world knows that they've got some crypto."