Punk&ComicBooks
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Presumably he made his vault on Earth a long time ago when humans were still primitive, probably early on in Viking times, and didn't think we'd ever be able to breach whatever defences the Vault has.
And keeping it on Earth has an obvious benefit as long as his enemies either don't know it's here or lack the means to get here (probably the latter): If it's in Asgard it could be seized by invaders like the Frost Giants, but here it's beyond them.
Gotchya! All really good theories! Thanks!