Topic: Celebrities Embracing bitcoin because of Divorce? (Read 448 times)

I agree too that, that might not be the main reason celebrities are getting into Bitcoin and besides, most of them have really come out publicly to confirm they have invested in some cryptocurrencies and that doesn't sound like they trying to hide anything. We know this is the trend now, anyone that understands knows investing in crypto is the best thing to do now hence celeb adoption too. 

Having a prenuptial agreement is even more applicable to those who have acquired assets and properties in their singlehood, as they still have the right to owned it fully even after a divorce. And owning bitcoin is not an excuse to this as it can be considered an asset because of its huge amount of value. But of course, even without those assets and properties before the marriage, prenup is still exercised by most of the couple nowadays before marriage takes place. However, if an individual refuse to declare his bitcoin assets, i guess its his choice as prenup does not require to specify all your assets especially if he has acquired it before marriage takes place.

Prenup agreement is indeed a big savior once both parties are about to separate their ways. It will also save them lawyer fees if in case they have a lot to discuss with and the other party is not in agreement with the other. If you think that would make both your lives easy, one can always do it even if you're not a celebrity. Also, if you are still single and you already own crypto, you have the option to keep your btc or crypto stash without the knowledge of your spouse, that is, if you want to keep secrets that stash. Also, check the laws in your country, because possessions of assets may be different from one country to another.

Assets or properties that you have acquired before the marriage will give you the full rights to own it. However, if you keep on acquiring the assets when you are already married, your partner will get a fair share on it once the marriage ended. You may read it here for further understanding about splitting your assets once divorce is filed.https://www.columbusfamilylawyer.com/blog/2021/february/am-i-entitled-to-half-of-everything-in-a-divorce/

I wouldn't be surprised why there's already some celebrities that keep holding bitcoin because as the matter of fact most of them are already in NFT's projects as well. wherein they keep promoting NFT's nowaday so it is not surprising that they will end up bitcoin afterwards, since it's the most trusted and reliable in the crypto space.

It is difficult to explain this and of course it all depends on the marriage laws that apply in a country or on a particular religion, but broadly speaking, bitcoins that are owned when we are single are absolutely our own and of course we have full rights to the assets. However, if we get married and buy bitcoins during the marriage, of course the bitcoins will become a shared right between us and our partners, but I think after the wedding of course we will also share them with our partners even though we have bitcoins when we are single, maybe in this case only we and our children will have full rights to what we have whether we are single or married later.

From what I understand, any btc bought by any celebrity while still single will not be considered as part of the marriage fund! Well, if that is the case I guess it does make sense when the singles among them opt for btc to secure their financial status when they eventually tie the nut and end up divorcing.

The best solution to this will be to sign a prenuptial contract before the wedding for both spouses to understand what will happen when there is a divorce in the future, this simple agreement takes care of everything in this regard and both parties go their separate ways peacefully.

All the celebrities and anyone with money will follow the financial trend and it is not a big surprise. In my country one of the regional actors were raided by the economic wing because he was investing heavily in the cryptocurrency market and they wanted to know everything about his investment which is not a great thing for the general public when you hear people are raided for investing in cryptocurrencies.

Right now it is basically impossible to invest in BTCitcoin without having a trail.

Depending on the agreement when you get married, everything that belong to you will also belong to your partner and vice versa. That is possible...

But it's also possible that the agreement will only count as marital property what was acquired by the couple during the marriage. There are exception though, like the house where the couple lives, for an example. Doesn't matter if it was acquired before the marriage by one the parts. Since they live together there, the house becomes marital property as well and must be splitted in case of divorce.

Bitcoin, on the other hand, is another story, because besides being acquired before the union, it's untouched and not shared to the partner, so it can be considered separate property that will fully remain with the original owner.

First of all, there are extra things here that are difficult to apply and understand, first the law is not the same in all countries on that specific matter and in fact it may be different depending on the state or jurisdiction where you live.

The next thing is what kind of divorce you have, by mutual agreement or we are going to fight, in the first, common sense and cordiality prevail, would you like your wife or husband to hide you, you are using bitcoin, come on, it is something dirty and low, let's be honest , in case 1, because it's easy to say but if they break your heart, to call it tenderly in the month of love, so...

As a collateral to your question, what I like is that lawyers and in general in the near future, that is to say this Monday, people must begin to prepare and be informed, EVERYONE, because you must know if your partner handles bitcoin and you must look for a lawyer who correctly handles this information.

In my opinion there is a stupid belief that divorce means having to hide assets, so it is a pity that bitcoin is intended to be used again or bitcoin is wanted to be included in this type of discussion.

I think that will depend on the husband if he wanted to share all of his holdings including the bitcoins to her wife but before the husband do it, better if he observe her wife first if her wife is really faithful to him because we often heard stories about a wife that does something bad to their husbands. These kind of wives are not worthy to be given by a huge wealth.

Other than being used on divorce, the other possible reason why they use bitcoin is like you said because of the potential profit that they could get in the future because they already figured out that the price of bitcoin is growing overtime so it can be a good investment for their self of to their other half.

As for living together, as far as I know there are two directions. The first is when you officially live together and in the event of a divorce, the court decides your claims, including the division of common property. The second is when a marriage contract is drawn up and everything is immediately clearly spelled out who and what gets in the event of a divorce. As for the use of blockchain and cryptocurrencies for these procedures, why not? As far as we know, the BTC blockchain is transparent and everyone knowing the wallet number can view the balance and movement of funds, which makes this process fair. Because of this, many famous people are probably starting to use blockchain and crypto for such cases, so that in the future they will not have claims against each other.

I thought it's the other way around, they accept BTC because they are seeing possibilities that in the future keeping BTC in their wallet will keep their coins with them and not going to be cut in half to be given to their ex-wife.

If you have BTC while you are still single and you got married after a year yet you still have your BTC in a wallet. Will these coins in the wallet be considered owned by the couple?

It is not entirely true that celebrities are saving bitcoin for fear of divorce, but they may buy coins to cover the cost of divorce or buy bitcoin with the money they receive from their husbands after divorce.

But that's right, all celebrities want to be in trend and Bitcoin is a trending topic or currency system.

On the other hand, the lifestyle of celebrities is very expensive and they need a lot of money to maintain this costly lifestyle and to meet that need, cryptocurrency or bitcoin is now a very suitable investment medium. So, they invest in Bitcoin in order to make more profit in a short time.

That's too much funny,
This is the first time I've heard of such a purpose,
I've never heard of anyone holding a bitcoin for fear of getting divorced.
Celebs hold bitcoin because bitcoin is a trend now, and celebrities like to follow the trend. The second thing is that celebrities can make a lot of money so they invest their lazy money in Bitcoin. Many times they may be hired from different exchanges to promote Bitcoin.

Anyway, although the trend of divorce is high among celebrities, it is very ridiculous for celebs to hold bitcoin for fear of divorce.

How do you guys even come up with thoughts like this? Holding bitcoin because divorce might screw them up? Don't even know what to say here...

And no, celebrities and footballers aren't accepting bitcoin because they are scared of getting divorced. They are doing it because either they found it interesting or they just want some attention from their people. Or they are getting paid to accept bitcoin and advertise for some crypto currency platforms.  Either way, at the end of the day, I am sure they all go back to fiat.

In any civilized society that has come to certain agreements on how to split the assets of a couple at the stage of divorce, the medium of value storage is absolutely irrelevant. If one person in that couple happens to own 2 bitcoin and a court decides that all assets should be divided in half, that person would owe 1 bitcoin to the other person. People try all types of trickery to try to deceive the courts and break the law, but it always has the possibility of catching up to them. What you seem to be getting at with your post, is the suggestion that it might be a good way to hide assets - buying Bitcoin that can be hidden, as most people know that the methods you described are a pretty poor means of tracking bitcoin ownership and the trail can be easily broken. Encouraging dishonesty and associating it with Bitcoin would likely do much more harm to its long term prospects.

Actually, sometimes, a celebrity has made a certain agreement about the condition of their first finances before getting married. So they know how much the wife has and the husband has in the first beginning and they will note it in some notaries or legal experts they trust.
And this will influence how the divides of the wealth when someday they may divorce.
However, if this is about the finances that they get by themselves during the marriage, will it be better if they are also opened each other?

But, that depends on each case and also the person who is doing that. Sometimes, there are some financial consultants who also suggest an alternative about this, hiding some of the wealth. If they are hiding some of the wealthy buying Bitcoin, I think they have prepared it very well and will not sell the BTC for some years later. They will use it for long-term investment.

Hiding FIAT to crypto transactions doesn't have to use KYC, there are some exchanges that don't apply KYC to buy bitcoins. Crypto asset storage can also be done in a personal wallet or hardware wallet that no one will know about.
It's not too late to hide fiat to crypto transactions, there are still many ways to do it. but if with a large number of FIAT, need some splits to do it.

Isn’t spouses supposed to be that one person that you share secrets with and the other way around? Well, maybe it is true that marriage is somehow talked and viewed differently when it comes to sharing wealth by those who fear to lose their richness over the other person. Nonetheless, I would agree that prenup agreement would be better than to hide it from your partner.

If I had this view of marriage that my (future) wife is only after my money, I would never get married, as simple as that. Or I would ask for prenuptial agreement (good luck with that ). But seriously, getting into marriage and then hiding money from my family members looks like a nightmare to me.

Because we are regular people so we don't think like them. Trust me, most of those marriages are Businesses, the man knows this woman will be happy to take off with half his wealth WHEN divorce happens and not IF it will, cos it will in 80% case so there is less trust so the best asset you can hide now would be your Bitcoin

For anyone that like privacy, it will be hard for laywer, court or government agency in charge of that to know but people can make mistakes, if I am the one, it will be hard. It is what the court know that will be used to make judgement, not what they do not know. Bitcoin has open blockchain but some people are having privacy even to the extent it will be heard to link a bitcoin transaction to them.

The only ones which I can think of at the moment who are very well-known and started early were Akon and Paris Hilton.
Akon did with establishing he will be building a bitcoin city and Hilton I think she bought a bunch of Lealana coins and apparently knows ethereum founder Vitalik and the other founder.
This article came up after doing a quick search.
https://www.cnbc.com/2022/01/26/paris-hilton-has-invested-in-crypto-since-2016-heres-why-shes-betting-big-on-nfts-and-the-metaverse.html
Think she recently got married but I doubt even if she did get divorced her current husband would  be after her other riches than her bitcoin and crypto holdings.

This is something very rare to happen. If such scenario happens, then it is upto the investigation team to clarify what all assets available and find the holdings. Further the court can give the judgement on the same. It can request the investigation team to find the capital spend and the net worth. From that the division can be done on such occasion of divorce.

After reading the latest comments, i still can't release what do you mean by the term of "Divorce". I mean i can't imagine that someone (either it's a celeberity or not) would think using bitcoin as a plan b to cover his assets in case of divorce.
This is a weird funny scenario imo.
Imagine how someone will spend his live with someone while he has to hide his secret keys to avoid loss after divorce.

In my country, not everything is shared 50/50 when filing for a divorce. In fact, any personal earnings remain personal, and any property bought by one person is considered personal as well. Only that which qualifies as property that was acquired in marriage with common effort is in question during a divorce. The op also mentions that Bitcoin is also shared, and questions can be asked about it in court, so they'd have to hide it if they don't want it to be shared, and false statements in court is an offense. So I don't think Bitcoin is being embraced over fears of divorces.

I don't really care the purpose for which people want to use their Bitcoin, but honestly I actually thought out spouses always stood out as the one person whom we would share our seed phrases with, and other personal information about our Bitcoin funds in case of any unforeseen circumstance, but suggesting it's now being used to hide 'things' from spouses is now somewhat weird to take in.

But that said, if people choose to do it that way, then it's prolly not a bad idea if it works for them, after all, Bitcoin is a decentralized currency, and if people decide to be 'anonymous' from everyone, including their spouse, then that's fine for them as long as they do so without any traces whatsoever.

Even if they were holding their assets still it would not be a safe bet. Since at the end of the day they might be taken to the court and then they might have to pay the sum to their spouses as well. People cannot hide their assets that much KYC is everywhere therefore it's hard, you can definately use a paper wallet or something but then again it might be a bit hard but intelligent move to do that. Then again it's illegal and should be taken care of. Your spouse might already know about your bitcoins as well. In some countries it is considered as an asset so would be divided half and half no matter what. So at the end you can just get extra sued for it.

It won't be long there will be movies related to parents having a divorce while each of the member of the family just divides the cryptocurrency they have thru the help of the lawyer whos expertise includes blockchain wealth.

Parties hiding their wealth to each other is actually common to partners. You just cant know someone until they are caught, some people live a double life.

I think all married couples are working hard just for their relationship to work and be successful so they won't end up being broken. Unfortunately, not all are lucky enough having their partners. This is where divorce enters.

However, its better to specify all your assets or investments, or even debts, be it in bitcoin, stocks, or real estate before making the prenuptial agreement. Particularly for big celebrities who also make big earnings. This will avoid the forthcoming problems that may arise in the future particularly to where the property will go after a marriage.

The thread is interesting to read twice, Bitcoin is currency every body want to have so is not surprising that footballers and music entertainment industry embrace payment with bitcoin. Most of them before was not regarding Bitcoin but i can see that they have seen the regulation and the values that is why some of them agree payment with Bitcoin , so having Bitcoin is like some one that have shares that gives return for long time, if i wish to work with good company i will like to pay with bitcoin

Well, anybody can use any investment tool for that matter to make sure that he or she can be financially independent in case something untoward happen like a divorce. But come to think of it, the best thing to do is to have a pre-nuptial agreement that must state that any party of the marriage can get involved with cryptocurrency and that the other one will not any stakes on it...unless of course a partnership agreement can be agreed upon during the marriage. Anyway, we know how destructive a divorce is so I think the best thing to do is both parties work hard to make a marriage a big success.

It will be a marriage domed already to fail because there will exist alot of hiding, insecurity and lack of comfort in that all. Lies will be the house name because you need another lie to cover the previous one said. Covering traces is not needed before you enter into such relationship except that while in the marriage then things start changing.

^ Call me selfish but I think that is a good idea, though it is a smart idea to plan for your future ahead of time being married by hiding the majority of your wealth, especially if you don't know your partner or need to keep your wealth hidden from your partner. Becoming a well-known celebrity is so widespread in our society, most of their lovers marry them for their fortune rather than their love. As a result, it is an advantageous weapon for them to protect their wealth from their profiteer partners when the time they decided to get divorced. This is truly how to use BTC that can hide wealth against those who wanted your wealth, even you ex-spouse that has a lawyer that ready to split your wealth has nothing to do once it is converted to BTC.

Call me naive but honestly that sucks, that prior to wedding you hide part or all of your  crypto holdings from your future wife. I mean, why the hell would I marry someone if I can't trust her in the first place?

But still we can't say that celebrities have started late as KYC is not a big exposure for them because they can submit the documents of any other person with the exchange and remain unknown to the others with their investments.But this topic doesn't fit in the category so nothing much to say about it.

I've seen a divorce that gone wrong because the entire tangible assets of the couple has been cut into half, yeah, literally sliced for their 50/50 share. It's crazy as it seems but they really are going with the law about their conjugal property.

About owning bitcoin, it's about the faithfulness of the both of them. My wife knows that I've got some holdings but she never accessed it and I've told her that never speak in public about it. I guess this goes to the communication of the couple and for the single men/women, it's up to you if you're going to introduce yourself as a bitcoin investor to the love of your life when you find them.

The learned men (Lawyer), as they are being called by their colleagues, have some truth wizards in their firm that can dictate if someone is lying about their private keys. They use behaviors like body language to spot deception and discover the truth from a spouse that it's lying. However, I know less about the pre-nuptial agreement but, it's a good idea to take such steps because the world has changed enough, and people now see divorce as a get-rich-quick scheme. No man is perfect!

If the other half refuses to share his bitcoin asset to his partner by lying that he lost the private keys, then he will be put into further investigation. However, if the bitcoin asset has been acquired before the marriage, once the couple decides to divorce, that asset or property will remain as the person's separate property, so the other half does not have the power to split the asset.

It is good to be smart in life, even if the end is not good, I am not saying it is good to be bad, but to just be smart. Before wedding, it is not bad to have bitcoin holdings that your spouce will never know about. After you wed, it is not bad to have some holdings your wife will not be entitled too but your hirer, these are things you will never tell your spouse.

About what you'd said, someone needs to be smart, all will be planned accurately, we are men and we must do it accurately in a way nothing will be noticed by your wife, her lawyer or any government agencies.

Even if I am not divorcing my wife, there are some part of me that she can never know.

Bitcoin is financial asset.It should be treated like any other financial asset by the governments and the judicial  system.
All the celebrities,who are getting married only for the sake of getting divorced several years later and having to pay millions of dollars to their spouses are simply stupid.I can't feel sorry for a rich guy,who gets married and after a year or two cheats on his wife.
I don't see any news about celebrities embracing Bitcoin as a way to hide their wealth from their spouses.
There isn't such trend whatsoever.Maybe the celebrities must focus on Monero instead of Bitcoin.

Well, they can get the spouses to sign a sworn affidavit that they declared all assets and commodities when they get divorced. If they then later do a financial audit on the proceeds of any Crypto transactions, they can use the Blockchain and also the transaction history of Exchanges to determine when those Crypto coins was acquired.

So, if they find that a person lied about their financial interest, they can charge that person with Perjury and the maximum jail time for that can be between five and 10 years per charge. If a person lies under oath more than once, he or she stands to be charged with many offenses.

The topic is interesting, because in theory, in a sincere marriage where you both love each other, things like a large amount of money should not be hidden from each other. If we get more realistic, in some cases in a divorce the person you divorce becomes a complete stranger who tries to hurt you by getting the most out of you. More so in the case of celebrities. Maybe there it is justified to have a safekeeping amount in Bitcoin but the other person doesn't know about it, so they can't sue you for a part of it in the divorce.


Yes, this would be a problem. If we are talking about very large amounts, hiding them in Bitcoin without leaving a trace would be difficult.

Quite a genius loophole if the bitcoin-holder manages to buy bitcoin without having a questionable money transfer that could raise red flags lol. Probably the "right" way to do it is to buy bitcoin in smaller amounts.

With that said, this is mostly a personality relationship problem that both parties should solve.

I think this is complicated, will any on them wiling to share the private key to their bitcoins?

What if they claim that they have lost the private keys? can the court force someone to divulge the keys or how can they proved that they are telling the truth about losing their private keys?

So yeah, I guess pre-nuptial agreement is a thing to do, and most likely this is what celebrities are doing right now isn't it?

At least they have some alternatives to multiply their wealth in the future. It's a good thing to do because most of the divorce you have right there took years and maybe after 2-4 bitcoin halvings have already passed and I'm sure their funds have already multiplied by that time. If they happened to get divorced just before a year, then that guy is both unlucky in love and money investment.

We can't blame them if they will hide their wealth on Bitcoin before getting a divorce because everything will be split, or dividing property when they are separated.  
I never heard such stories in my country because there's not yet a divorce approve here.  

I have never experienced this but I think this belongs to cheating if someone hides their assets to Bitcoin.

but if you are using your own wallet and not third party wallet or exchange, you won't need to submit any vital info. you can actually save your satoshis in btc core or any other noncustodial wallet, without informing anyone.
but i prefer to have prenup agreements if you are worried about your assets in case your relationship don't work out. this is not because you don't trust the other person but it will save you lawyer's fees and all if in case you parted ways with the other person.

This is definitely true on which its a little bit late since platforms now already strict specially when already dealing with crypto to fiat conversions on big amounts
which it would really be that typical or normally can be traced up.I dont know on why people do really mind off on getting rid of their fiat and wont tend to
have that conjugal kind of mindset on where they wouldnt be hiding something from their husbands or spouses.

Such a weird topic but I can't deny that some people may have done it or in the process of doing so. The problem with these celebrities is that most of them started late. I mean it's probably harder to hide your fiat to crypto transactions now since KYC is already a norm among exchanges.

If someone is afraid of potential divorce, they can just make a prenuptial agreement instead of trying to hide their wealth, which rarely works out. Imagine someone successfully hid the coins during the divorce, then a year later they use the coins to buy a new house, and lawyers notice this and calculate that they have used some hidden money to do that, so they get investigated and penalized.

My explanation why celebrities engage with Bitcoin is that some of them are probably sponsored by Bitcoin-related businesses, so it's essentially advertising. And some are simply genuinely interested in the alternative form of money and investing.

Recently, I found threads on this forum about celebrities such as footballers, musicians, e.t.c embracing bitcoin and choosing it as a payment method for brand endorsements. On the second note: I thought about it this way; since they are an increase in divorce in their industry, especially the musicians. Could holding bitcoin be a plan B for securing their assets if their spouse files for a divorce?

In search of an answer: I read a Law Firm blog that said something about sharing bitcoin 50/50 during a divorce. They clarified that any bitcoin transaction that occurred while the holder is married belongs to the marriage fund and can be shared if divorce arises and vice versa.

How do they get to know the truth?

They claim that some questions when asked to a spouse, would determine if they hold bitcoin (that's if they answered correctly or genuinely).

They can track a spouse's bitcoin transactions through the person's hard drive.

They urge people to open up about every asset they hold. Including; bitcoin when in court.

After a brief thought, I concluded my thoughts about some single (Not married) celebrities. Observing the rapid increase in the divorce of their colleagues would see bitcoin as a plan B to secure some funds to keep them balanced even if they experience such ill-treatment from their spouse in the future. Because most celebrities like DR Dre fell off balance after his wife filed for a divorce.

What do you think about this?