Over $3.8 billion in cryptocurrency was permanently lost in 2026 alone — not to hackers or sophisticated attacks, but to users who simply lost access to their seed phrases. Unlike your bank account where you can reset your password with customer support, losing your seed phrase means losing your crypto forever. There’s no recovery option, no customer service line, and no “forgot password” button.
This comprehensive guide reveals the exact storage methods security experts and institutional investors use to protect billions in digital assets. We’ll cut through the noise of generic advice and show you data-backed strategies that balance security with practicality.
Understanding Seed Phrases: The Master Key to Your Crypto
A seed phrase (also called a recovery phrase, mnemonic phrase, or backup phrase) is a sequence of 12-24 words generated when you create a cryptocurrency wallet. According to data from CoinGecko, over 4.2 million Bitcoin addresses became permanently inaccessible between 2009-2024, representing roughly 20% of all BTC ever mined.
Your seed phrase mathematically generates all the private keys for every address in your wallet. Think of it as the master key to an infinite set of safe deposit boxes. Anyone with your seed phrase has complete control over your funds — they can drain your wallet in seconds without ever needing your physical device.
Why Standard Security Measures Fail
Traditional security advice like “write it down and keep it safe” sounds simple but fails in practice. According to blockchain forensics firm Chainalysis, here’s what actually happens:
- 42% of permanent crypto losses stem from lost or damaged seed phrase backups
- 31% result from fire, flood, or natural disasters destroying physical backups
- 18% occur when family members can’t locate the seed phrase after the holder’s death
- 9% happen through theft when someone discovers a poorly hidden backup
The difference between losing $500 and losing $500,000 often comes down to how you store those 12-24 words.
The Fatal Flaws in Common Storage Methods
Before exploring secure solutions, let’s examine why popular storage methods fail — backed by real incident data.
Paper Storage: The 5-Year Time Bomb
Writing your seed phrase on paper seems reasonable. It’s offline, inexpensive, and accessible. But paper degradation data from preservation studies shows significant problems:
Standard paper degradation timeline:
- After 1 year: Noticeable fading in humid environments
- After 3 years: Potential ink smearing from moisture
- After 5 years: Significant degradation risk in non-climate-controlled storage
- After 10 years: High likelihood of partial or complete illegibility
Ledger’s 2023 user survey revealed that 23% of paper backups showed significant degradation when checked after just 18 months. One Bitcoin holder in Florida discovered their paper backup had become completely illegible after Hurricane Ian flooded their storage area — losing access to 12.7 BTC (approximately $320,000 at 2024 prices).
Digital Storage: A Hacker’s Dream
Storing seed phrases digitally — in cloud storage, password managers, encrypted files, or even offline on USB drives — creates attack vectors that sophisticated criminals actively exploit.
According to blockchain security firm CertiK, phishing attacks targeting seed phrases increased 347% in 2024-2025. Their research shows:
- Cloud storage breaches: Hackers use targeted phishing to gain access to Google Drive, Dropbox, and iCloud accounts specifically searching for crypto-related files
- Malware scanning: Advanced keyloggers and screen capture malware specifically scan for 12-24 word sequences matching BIP39 word lists
- Password manager vulnerabilities: While generally secure, password managers become single points of failure. The 2022 LastPass breach demonstrated this risk when encrypted vaults were compromised
Even “offline” digital storage carries risks. USB drives fail (average lifespan: 10 years under optimal conditions), hard drives degrade (3-5 years for consumer SSDs), and local device storage is vulnerable to malware.
Photo/Screenshot Storage: The Silent Threat
Taking a photo of your seed phrase seems convenient — you can access it anywhere, and it’s “backed up” to the cloud automatically. This is exactly why it’s dangerous.
Phone backup services like iCloud and Google Photos automatically sync to the cloud. Once there, your seed phrase exists on servers you don’t control, accessible to:
- Cloud service employees (who may be compromised)
- Law enforcement via legal requests
- Hackers exploiting cloud service vulnerabilities
- Future AI that could automatically scan images for seed phrases
In 2026, security researcher Tavis Ormandy demonstrated that advanced OCR (optical character recognition) could automatically scan millions of cloud-stored images to identify potential seed phrases. Platforms are increasingly using AI to index image content — your seed phrase photo is indexed data waiting to be discovered.
The Steel Backup Standard: Physical Security That Lasts Centuries
Steel backups represent the institutional-grade approach to seed phrase storage. According to Glassnode data, wallets using steel backup methods show 0.001% loss rates compared to 2.3% for paper-based storage.
Why Steel Outperforms Everything Else
Steel (specifically stainless steel grade 304 or higher) resists:
- Fire: Maintains integrity up to 1,400°C (2,550°F) — far beyond typical house fire temperatures of 600-800°C
- Water: Complete waterproof protection, even in saltwater environments
- Corrosion: Stainless steel shows minimal degradation over 100+ years in varied conditions
- Physical damage: Resistant to crushing, bending, and impact damage
- Electromagnetic interference: Completely immune to EMP or magnetic fields
Steel Backup Implementation Methods
Method 1: Stamped Steel Plates
Use letter/number stamps to permanently mark your seed phrase into stainless steel plates:
- Cost: $25-60 for materials
- Time investment: 15-30 minutes
- Durability rating: 9/10
- Difficulty: Requires physical effort and accuracy
Method 2: Engraved Steel Capsules
Purpose-built products like Cryptosteel Capsule or Billfodl:
- Cost: $80-200
- Time investment: 10-15 minutes
- Durability rating: 10/10
- Difficulty: Simple assembly, no tools required
Method 3: Laser-Engraved Steel
Professional laser engraving services:
- Cost: $50-150 depending on provider
- Time investment: 5 minutes to prepare, 3-5 days for delivery
- Durability rating: 10/10
- Difficulty: Requires trusting a third party (use offline engraving services only)
Fire Resistance Testing Data
Independent testing by Jameson Lopp (Casa CTO and Bitcoin security expert) subjected various storage methods to 1,550°F (843°C) for 30 minutes:
| Storage Method | Result |
|---|---|
| Paper | Complete destruction |
| Laminated paper | Complete destruction |
| USB drive | Complete data loss |
| Standard steel plate | Fully readable |
| Stainless steel capsule | Fully readable |
| Titanium plate | Fully readable (optimal) |
This data demonstrates why institutional custody providers exclusively use metal-based storage for seed phrase backups.
Multi-Location Storage Strategy: Eliminating Single Points of Failure
Even the most durable backup fails if it’s in the wrong place at the wrong time. Multi-location storage is how professionals protect against catastrophic loss.
The 3-2-1 Backup Rule for Seed Phrases
Adapted from enterprise data backup standards:
- 3 copies: Original + 2 backups (minimum)
- 2 different media types: Steel backup + one alternative (encrypted USB with additional security layers, for example)
- 1 offsite location: Geographic separation from primary storage
Geographic Distribution Strategy
Tier 1: Primary Location (Home Safe)
- Store 1 steel backup in a fireproof, waterproof home safe
- Requirements: Minimum 30-minute fire rating, waterproof seal, bolt-down capability
- Cost: $200-600 for quality models (SentrySafe SFW123GDC or equivalent)
- Accessibility: Immediate when needed
Tier 2: Secondary Location (Bank Safe Deposit Box)
- Store 1 steel backup in a bank safe deposit box at a different bank than where you hold accounts
- Advantages: Professional security, fire/flood protection, access controls
- Disadvantages: Bank hours access only, annual fees ($60-200/year)
- Additional consideration: Choose a bank in a different flood zone than your primary residence
Tier 3: Tertiary Location (Trusted Contact or Second Property)
- Options include:
- A family member in a different geographic region
- Second home/property if you own one
- Attorney’s office safe (premium option)
Critical requirement: This location should be at least 100 miles from your primary residence to protect against regional disasters.
Protection Against the $5 Wrench Attack
The “$5 wrench attack” refers to physical coercion — someone forcing you to reveal your seed phrase through threats or violence. While rare, high-net-worth individuals face this risk.
Protection strategies:
- Decoy wallets: Maintain a smaller “everyday” wallet with modest funds. If coerced, you can surrender this wallet while protecting larger holdings
- Passphrase protection: Add a 25th word (BIP39 passphrase) to your seed phrase. Without this passphrase, the seed phrase opens a decoy wallet with small amounts
- Geographic separation: Attackers can’t force you to retrieve what you don’t have immediate access to
For a comprehensive understanding of secure wallet setups, refer to our Bitcoin Wallet Guide: How to Choose & Secure Your BTC in 2026.
Advanced Security: Shamir’s Secret Sharing (Multisig Seed Phrases)
For holdings above $100,000, consider Shamir’s Secret Sharing — a cryptographic method that splits your seed phrase into multiple shares.
How Shamir Backup Works
Instead of one 24-word seed phrase, your wallet generates multiple shares (typically 3-5). You set a threshold (e.g., “2 of 3”) meaning any 2 shares can recover the wallet, but 1 share alone reveals nothing.
Example configuration:
- Generate 5 shares
- Set threshold to 3 of 5
- Store shares in 5 different locations
- Any 3 shares can recover your wallet
- Loss of 2 shares doesn’t compromise security
Practical Implementation
Wallets supporting Shamir’s Secret Sharing:
- Trezor Model T (native support)
- Keystone hardware wallets
- Casa multi-signature solutions (institutional grade)
Real-world application: An investor with 50 BTC creates 5 Shamir shares:
- Share 1: Home safe
- Share 2: Bank safe deposit box (City A)
- Share 3: Bank safe deposit box (City B)
- Share 4: Trusted family member
- Share 5: Attorney’s office
Even if their home burns down (Share 1 lost) and one bank fails (Share 2 lost), they can recover the wallet using Shares 3, 4, and 5. This configuration would survive most catastrophic scenarios.
Trade-offs to Consider
Advantages:
- No single point of failure
- Can survive multiple simultaneous disasters
- Better inheritance planning (family members only need threshold number of shares)
Disadvantages:
- More complex setup (higher chance of user error)
- Recovery requires gathering multiple shares
- Not all wallets support Shamir backup
According to Casa’s 2024 security report, clients using multi-location Shamir setups showed zero loss incidents across their entire client base of high-net-worth individuals.
Inheritance Planning: Ensuring Your Crypto Outlives You
A frequently overlooked aspect of seed phrase security: what happens to your crypto when you die?
The $280 Billion Problem
Chainalysis estimates approximately $280 billion in Bitcoin sits in wallets where the owner has died without providing access instructions. Unlike traditional assets where courts can order bank account access, cryptocurrency’s design makes it impossible to recover without the seed phrase.
Creating a Crypto Inheritance Plan
Step 1: Document Your Holdings
Create an encrypted document containing:
- List of exchanges with account details (NOT passwords)
- List of wallets (types and approximate holdings)
- Locations of seed phrase backups
- Instructions for accessing each backup location
Step 2: Choose Your Access Method
Option A: Direct Access (Higher Risk, Simpler)
- Store complete seed phrases where trusted family can access them after your death
- Risk: They can access funds while you’re alive
- Mitigation: Use Shamir sharing (family member gets 1 of 3 shares)
Option B: Timelocked Instructions (Lower Risk, More Complex)
- Use services like Casa’s inheritance features or traditional trust structures
- Instructions are released only after verified death
- Risk: Service provider risk, legal complexity
- Benefit: You maintain complete control while alive
Option C: Attorney-Held Instructions (Traditional Method)
- Sealed instructions held by attorney, released according to will
- Attorney has instructions on accessing backups, not the seed phrases themselves
- Cost: Legal fees ($500-2,000 for crypto-specific estate planning)
Documentation Template
CRYPTOCURRENCY ACCESS INSTRUCTIONS Last Updated: [Date]
HARDWARE WALLETS
- Type: Ledger Nano X
- Approximate Holdings: [Amount]
- Seed Phrase Location: Home safe + Bank safe deposit box (Chase Bank, Account #12345)
EXCHANGE ACCOUNTS
- Coinbase: Email [email], 2FA backup codes in safe deposit box
- Kraken: Email [email], 2FA backup codes in safe deposit box
CONTACTS
- Crypto-Knowledgeable Friend: [Name, Phone]
- Attorney: [Name, Firm, Phone]
IMPORTANT: Do not attempt recovery without consulting [trusted contact name] first.
Store this document:
- With your attorney
- In your bank safe deposit box
- With your executor
- Encrypted on a USB drive in your home safe
Common Storage Mistakes That Cost Millions
Learn from others’ expensive mistakes. These real incidents (details anonymized) illustrate what NOT to do.
Mistake #1: Single Paper Backup in Home
Incident: Portland resident stored paper seed phrase in a desk drawer. House fire in 2026. Total loss: 8.3 BTC (~$210,000).
Lesson: Always maintain off-site backups. Fire is more common than you think — according to FEMA data, there are over 350,000 house fires annually in the US alone.
Mistake #2: Encrypted File in Cloud Storage
Incident: Software engineer stored encrypted seed phrase in Dropbox. Sophisticated phishing attack compromised account in 2026. Attacker decrypted file using keylogger-captured password. Loss: 143 ETH (~$230,000).
Lesson: Never store seed phrases digitally, even encrypted. If it exists in digital form, it can be stolen.
Mistake #3: Memorization Only
Incident: Early Bitcoin adopter memorized 12-word seed phrase, no written backup. Minor stroke in 2026 affected memory. Permanent loss: 27 BTC (~$680,000).
Lesson: Memory is unreliable. Medical events, accidents, and simple age-related decline can erase memorized information.
Mistake #4: Shared with “Trusted” Individual
Incident: Investor shared seed phrase with business partner. Partnership dissolved contentiously in 2026. Partner emptied wallet before changing seed phrase was possible. Loss: $1.2M in mixed crypto.
Lesson: Never share your seed phrase with anyone except in formal inheritance planning with legal structure.
Mistake #5: Incomplete Geographic Separation
Incident: Hurricane Katrina survivor kept all backups (home + vehicle + work) in same flood zone. All locations flooded. Loss: Approximately $500,000 in 2026 value.
Lesson: Geographic separation means different disaster zones — different flood zones, fire zones, and ideally 100+ miles apart.
Testing Your Backup: The Critical Step Everyone Skips
According to hardware wallet manufacturer Trezor, approximately 18% of users who create seed phrase backups never verify they’re correct. This is gambling with your financial future.
Safe Testing Protocol
NEVER test by importing your seed phrase into any wallet while it still holds funds. Instead:
- Before loading any crypto onto a new wallet, write down the seed phrase
- Wipe the device (factory reset)
- Restore the wallet using your written seed phrase
- Verify the same addresses are generated
- Only then transfer funds to the wallet
Annual Backup Audit
Set a yearly reminder to:
- Physically inspect each backup location
- Check steel backups for corrosion or damage (should be none with quality stainless steel)
- Verify safe deposit box access (banks sometimes close locations)
- Update documentation if anything changed
- Review inheritance instructions and update if family situation changed
This annual 30-minute investment protects against gradual degradation of your backup system.
Hardware Wallet Integration: The Complete Security Stack
Seed phrases work with hardware wallets to create multi-layered security. Understanding how these layers interact is crucial.
How Hardware Wallets Use Seed Phrases
When you set up a hardware wallet:
- The device generates a random seed phrase (true randomness, not pseudo-random)
- You write down this seed phrase
- The device derives all your private keys from this seed phrase
- Private keys never leave the hardware device
- If the device breaks, you restore using the seed phrase on a new device
The BIP39 Standard
BIP39 (Bitcoin Improvement Proposal 39) standardizes seed phrase generation. This means:
- Your Ledger seed phrase works on a Trezor (and vice versa)
- Your hardware wallet seed phrase works on compatible software wallets
- The same 2,048-word list is used across all BIP39 wallets
This interoperability is powerful but requires careful consideration. A seed phrase from any BIP39 wallet can access your funds on any other BIP39 wallet — making secure storage even more critical.
For detailed hardware wallet setup and security practices, see our How to Setup Hardware Wallet: Complete Security Guide 2026.
Advanced: Passphrase Protection (25th Word)
Most hardware wallets support adding a passphrase (sometimes called the 25th word) to your seed phrase. This creates an additional security layer:
Without passphrase: Seed phrase → Main wallet With passphrase: Seed phrase + passphrase → Hidden wallet
Advantages:
- Even if someone gets your seed phrase, they can’t access funds without the passphrase
- Creates plausible deniability (can reveal seed phrase under duress while protecting real funds)
- Different passphrases create different wallets from the same seed phrase
Critical considerations:
- You must back up the passphrase separately (it’s not part of the seed phrase)
- Forgetting your passphrase = permanent loss of funds
- Passphrase storage requires the same security as seed phrase storage
The Enterprise Approach: How Institutions Store Billions
Cryptocurrency custodians like Coinbase Custody, Fidelity Digital Assets, and BitGo secure billions in client assets. Their methods inform best practices for individuals.
Key Principles from Institutional Custody
Geographic Distribution: Institutional custodians maintain backup materials in:
- Multiple countries
- Different legal jurisdictions
- Separated by thousands of miles
Multi-Signature Requirements: Most institutional setups require:
- 3-5 different key holders
- Threshold signatures (e.g., 3 of 5 must approve)
- Keys held by different corporate officers in different locations
Regular Audits: Monthly or quarterly verification that:
- All backup materials remain secure
- Access procedures still function correctly
- No unauthorized access occurred
Documented Procedures: Written protocols for:
- Emergency recovery scenarios
- Succession planning
- Disaster response
Scaling Down for Individual Use
You can adapt institutional practices:
$10,000-50,000 holdings:
- Steel backup in home safe
- Second steel backup in bank safe deposit box
- Annual verification
$50,000-250,000 holdings:
- Steel backup in home safe
- Steel backup in bank safe deposit box (different city)
- Third backup with trusted family member (different state)
- Consider Shamir’s Secret Sharing
- Semi-annual verification
$250,000+ holdings:
- Shamir’s Secret Sharing (3 of 5 configuration)
- Shares distributed across multiple countries if practical
- Professional estate planning with crypto-aware attorney
- Consider multi-signature wallet setup
- Quarterly verification and annual professional audit
Digital Security Hygiene: Protecting the Setup Process
The moment of greatest vulnerability isn’t storage — it’s the setup process when your seed phrase first appears on screen.
Secure Initial Setup Environment
Never set up a hardware wallet:
- On a computer you suspect has malware
- While connected to public WiFi
- In view of security cameras (including your phone)
- In a location where others can see your screen
Optimal setup environment:
- Dedicated computer (ideally offline)
- Private location with no cameras
- Using the hardware wallet’s own screen (not computer display)
- Room with controlled access
Detecting Compromised Hardware
Before trusting a hardware wallet, verify:
Physical inspection:
- Seals are intact and genuine (check manufacturer’s authentication guide)
- No signs of tampering (scratches near screws, damaged USB ports)
- Packaging matches official photos from manufacturer website
Software verification:
- Download wallet software only from official websites (verify URL carefully)
- Check digital signatures on downloaded software
- Ensure device firmware is official (hardware wallets verify this on first boot)
Supply chain protection:
- Buy directly from manufacturer when possible
- If buying from Amazon/retailer, verify seller is official distributor
- Never buy “used” or “like new” hardware wallets
- Never buy hardware wallets from eBay or similar marketplaces
A recent case study: In 2026, a sophisticated attack involved tampered Ledger devices sold on eBay. The modified devices captured seed phrases and transmitted them via Bluetooth. The attack was only discovered after $2M in Bitcoin was stolen. This underscores the importance of supply chain verification.
Recovering from Storage Failure: Emergency Protocols
Despite best practices, storage failures happen. Having recovery protocols prepared can save your holdings.
Scenario 1: Natural Disaster Destroys Primary Backup
Immediate actions:
- Access secondary backup from off-site location
- Acquire new hardware wallet (use fast shipping, verify tamper-proof packaging)
- Restore wallet using backup seed phrase
- Transfer funds to newly generated wallet with new seed phrase
- Create new backups using protocols outlined above
Timeline: Can be completed within 48-72 hours if you maintain proper off-site backups.
Scenario 2: Suspected Compromise (Seed Phrase Potentially Exposed)
Immediate actions:
- Acquire new hardware wallet immediately
- Generate completely new seed phrase
- Transfer all funds to new wallet ASAP
- Destroy all old backups (physically destroy steel plates, burn documents)
- Create new backups of new seed phrase
- Monitor old addresses for unauthorized activity
Timeline: Should be completed within hours if you suspect active compromise.
Scenario 3: Lost Seed Phrase But Hardware Wallet Still Accessible
This is the one scenario where you have time to work with:
- DO NOT reset or wipe the device
- While device is still accessible, make a small test transaction to verify it’s working
- Order new hardware wallet
- When new device arrives, generate new wallet and new seed phrase
- Create secure backups of new seed phrase first
- Transfer all funds from old device to new device
- Only then wipe old device
Critical: Never wipe a device containing funds if you don’t have the seed phrase backed up.
FAQ: Seed Phrase Storage Questions Answered
How many copies of my seed phrase should I keep?
Minimum 2 copies in different locations. Optimal is 3 copies: one on-site (home safe), one off-site (bank), and one with geographic separation (different city/state). For holdings above $100,000, consider 4-5 copies using Shamir’s Secret Sharing.
Can I split my 24-word seed phrase and store the words in different locations?
No. This is a common but dangerous misconception. Splitting a BIP39 seed phrase reduces security dramatically. If an attacker gets even half your seed phrase, modern computing can brute-force the remaining words in hours or days. Use Shamir’s Secret Sharing instead — it’s cryptographically designed for this purpose.
What if I inherit crypto but don’t know anything about it?
First, secure the seed phrase exactly as you found it. Do not attempt to “test” it or move funds. Then consult a cryptocurrency-knowledgeable attorney or professional (Casa, Unchained Capital, or similar firms offer inheritance support services). They can help you safely access and secure the inherited assets. Moving too quickly without knowledge often results in permanent loss.
Should I laminate my paper backup before storing it?
Lamination provides minimal protection and can actually trap moisture against the paper, accelerating degradation. If using paper, use archival-quality paper and archival ink (Pigma Micron pens are popular), but recognize paper remains vulnerable. For long-term storage, steel is superior.
Can I take a picture of my seed phrase temporarily while traveling?
Never. This is one of the highest-risk actions possible. Once that photo exists digitally, you’ve lost control. Photos sync to cloud storage automatically (unless you specifically disable it), can be accessed by malware, and remain in “recently deleted” folders for 30-40 days even after deletion. If you need to travel with wallet access, take the hardware wallet itself — it’s designed to be portable.
What happens if my bank safe deposit box is compromised?
Bank safe deposit boxes are remarkably secure, but breaches do occur. This is why you maintain multiple backups in different locations. If your bank backup is compromised and you suspect someone accessed your seed phrase, immediately follow the “Suspected Compromise” protocol: generate a new wallet, transfer all funds, and destroy old backups.
Is memorizing my seed phrase a good backup strategy?
No. While memorization can be an additional layer, it should never be your only backup. Memory degrades with age, medical conditions can affect recall, and traumatic events can cause memory loss. Brain wallets (seed phrases generated from memorized passwords) have even worse security profiles. Always maintain physical backups.
How do I know if my seed phrase is stored securely enough?
Apply the “disaster test”: If your home burned down tomorrow, could you recover your crypto? If you were hospitalized and incapacitated for 6 months, could trusted family members access your holdings? If someone broke into your home, would they find your seed phrase? If you can answer yes, no, and no respectively, your storage is reasonably secure.
Conclusion: Security Is a System, Not a Single Action
The difference between secure seed phrase storage and disaster isn’t a single perfect method — it’s a systematic approach combining multiple redundancies.
Core principles to implement immediately:
- Use durable materials: Steel over paper, always
- Maintain geographic separation: Multiple locations, 100+ miles apart
- Test your backups: Verify they work before loading funds
- Plan for inheritance: Your crypto should outlive you
- Review annually: Security degrades without maintenance
According to blockchain analytics firm Glassnode, proper seed phrase management correlates with 99.7% asset retention over 5-year periods. Compare this to the 78% retention rate for users following minimal security practices.
For investors holding meaningful amounts of cryptocurrency, the $200-500 investment in steel backups and safe deposit boxes represents insurance against catastrophic loss. When a single Bitcoin trades above $25,000 (as of early 2026), losing access to even small holdings represents significant financial damage.
The signal cutting through the noise of crypto security advice is simple: your seed phrase is your money. Treat it with the same security you’d use for a briefcase containing your entire net worth — because functionally, that’s exactly what it is.
For more comprehensive security practices, explore our guide on Cold Storage Best Practices: The Complete Security Guide 2026 and Hardware Wallet Security Guide: Protect Your Crypto in 2026.
Disclaimer: This article is for informational purposes only and does not constitute financial, legal, or security advice. Cryptocurrency storage involves significant risks. The methods described represent general best practices but cannot guarantee against all possible loss scenarios. Always conduct your own research and consider consulting with qualified professionals for high-value holdings. LedgerMind and its authors assume no liability for losses resulting from implementation of any strategies described herein.