Who will get Kim Kardashian’s Bitcoin in the event of her divorce?
One of the most high-profile stories in terms of American celebrities in recent weeks has been the news that Kim Kardashian and Kanye West, one of the most famous couples in the world, are apparently headed towards a divorce. This has been in the offing for quite some time, with various signs showing that the couple may not be living in marital bliss anymore after around six years of marriage, and this is likely to be a story that many in the USA and the rest of the world will continue to follow as it develops in 2021. However, oddly enough, there is something here which has garnered the interest of some in the world of finance, specifically in cryptocurrencies as well, due to the Bitcoin that Kim Kardashian owns.
Cryptocurrencies have been growing in popularity over the last 12 months or so like never before, with the likes of Bitcoin and Ethereum seeing their prices increase multiple times. In general, the use of blockchain to underpin crypto transactions has been a big reason for its attractiveness, since that makes transactions rapid, safe and anonymous. Many celebrities have been showing interest in crypto during this time as well, and the price that Bitcoin has reached probably makes it accessible, at least if you want to own a full token, only to the rich and famous. However, many industries and businesses are also working on ways to integrate cryptocurrencies into their operations, and the world of online gambilng has been leading this effort. New crypto casinos offer bitcoin gambling, for those interested to have a look, and can allow users a list of new crypto slot games. Thus, Bitcoin and other crypto tokens have seen a lot of interest from businesses, the general public and celebrities, and therefore the question of ownership for Kardashian’s tokens is an interesting one.
In 2018, Kardashian was given 1 BTC Matthew Rozak, the chairman and co-founder of the blockchain firm Bloq, and a founding partner of Tally Capital, as a gift. That token, which would have been worth around $8,000 at the time, is now around $37,000 in value, and even though those numbers are a pittance compared to Kardashian’s overall income and net worth, there are unlikely to be any assets she owns that have almost quintupled in value in around 18 months. Thus, it is likely that this is going to be a valuable asset which will come up during the divorce proceedings, as to its ownership.
The couple apparently do have a prenuptial agreement to help settle the ownership of assets in the event of a divorce, but it is unknown if it covers digital assets and crypto. According to California state law, the token would be treated as a Community Property, and therefore would be split equally between both of them, since it was acquired after the marriage. Of course, this assumes that Kardashian does not own any more Bitcoin. If she did, they could form a part of the dispute as well, with Kanye West well within his rights to demand proof of ownership and value, even with private keys being needed to be delivered if a court asks for them. On the other hand, West has been on record talking about the benefits of Bitcoin, so it is possible that he owns some as well. Thus, the couple’s potential ownership of Bitcoin, either one of them, could be an interesting side-plot in their wider divorce proceedings, which is why this has also picked attention among those in the fintech and crypto space.