I am not sure there are enough trustworthy people whom it would not be insane to trust with this much money, and to not collude to try to steal the money.
BTC500 to be held by one single person? Definitely not. Not anyone. I think those funds are at risk.
7 people for a 4-of-7 multisig address so 4 signatures are required? Absolutely yes. Much less trust is required in that case.
Back in the days when the tx made the value for this 500
BTC was only: $34,445.00 (I hate to compare with fiat damn!),
Now it's: $3,448,708.66
When BTC had it's ATH over $19k (consider $19k) then the value was : $9,500,000.00
There are no question about OG's loyalty and responsibility. OG really has some really a big balls :-P (<== thanks bud)
Reference:
https://blockchair.com/bitcoin/address/1Eog8UqRFLufC71rBLt2nYgfUDskgxAyVFI am not sure there are enough trustworthy people whom it would not be insane to trust with this much money, and to not collude to try to steal the money.
An imaginary scenario:
2/3 Multisig wallet
Key 1 : theymos
Key 2 : OG
Key 3 : VOD or
Key 1 : theymos
Key 2 : QS
Key 3 : VOD:-P