What Happens to #Bitcoin After Death?
CZ: Crypto Platforms Should Establish "Will Function" to Guarantee Inheritance Rights When we discuss investment, financial freedom, and when the #bull market will return, have you ever considered: If you suddenly leave this world, who will get your Bitcoin, #Ethereum, and other #crypto assets? Or will no one even know they exist?
Binance founder CZ recently proposed a heavy but realistic suggestion on X platform: All crypto platforms should establish a "will function" to allow users to allocate assets to designated individuals after death. He wrote: "Humans cannot live forever. Every platform should have a will mechanism to ensure user assets do not disappear." This sparked widespread discussion in the community. Coincidentally, Binance just launched a new feature on June 12: Allowing users to set emergency contacts and heirs. If an account remains inactive for a long time, the platform will notify contacts, and heirs can submit applications to withdraw assets.
Community Calls: Inherit Not Just Coins, But Account Value
The feature received many user praises as "very considerate". However, some believe this is just the first step.
One netizen noted that a Binance account is not just a wallet, but may contain intangible assets like community influence, creative records, social networks, which might be more valuable than crypto coins themselves, and should allow complete account transfer, just like inheritable phone numbers. Other users argued that Web3 is about empowering users, so why not consider "post-life matters"? Continuing trust from code is the attitude of the decentralized era.
Insufficient Will Planning, Young Investors Most Likely to Overlook
The reality is that most crypto users are young. According to Dubai lawyer Irina Heaver's analysis, 27-42 year olds are the main user group, an age that rarely seriously considers post-life asset arrangements. She warns that merely writing "I have Bitcoin" in a will is not enough; detailed access methods, seed phrase storage, and executor information must be listed, or assets might be permanently sealed on the chain.
Hundreds of millions of dollars in crypto assets are lost annually due to owners' unexpected deaths or seed phrase loss. While Web3's freedom and control are beautiful, without proper preparation, it can become an isolated island.
Summary: Inheritance Mechanism is Not Just Platform Responsibility, But a Reality Every Crypto User Must Face.
Binance has taken the first step, and perhaps more exchanges and wallet services will follow. This is no longer just a human issue, but more about complete digital asset lifecycle management. After all, true decentralization is not just ownership during life, but the ability to confidently pass on assets even after departure.
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