That only works if your threat model is someone that is randomly mugging you. If it is a targeted wrench attack, they would already know your wallet, and the am

That only works if your threat model is someone that is randomly mugging you. If it is a targeted wrench attack, they would already know your wallet, and the amount of funds it contains. Crypto has a lot of properties in common with cash, and for security, any large amounts that you don't plan on moving, should use more then one factor. My suggestion for extremely large amounts would be to have at least 3 factors: a password you know, a cold wallet that you have, and the third can be location: keep the cold wallet inside a secured location, with a backup of course in another secure location. And if you have family, make sure to also have plans in place if you don't want to be buried with your crypto.