Bitcoin family settles in Portugal, where cryptocurrency tax is 0%

the bitcoin family settles in portugal

The famous “The Bitcoin Family”, who in 2017 invested all their money in Bitcoin, after several years of constant travel decided to settle in Portugal. Why exactly in this country? The answer is very simple.

Who is the Bitcoin family?

Back in 2017, a family from the Netherlands decided to sell all their possessions and invest all their savings in Bitcoin. This was just before the rally of the king of cryptocurrencies. The investment took place at a price of nearly $900. As it later turned out, it was a shot in the arm. Didi Taihuttu, along with his wife and three children, decided to live the life of a nomad for a while, traveling the world and not taking pleasure in the well-known lifestyle. Meanwhile, his crypto portfolio steadily grew taking on huge proportions, causing the family to afford to fulfill all their travel desires.

“We decided to sell our house and everything else to support the revolution and go all in with Bitcoin.” – confesses Didi Taihuttu, on her blog.

 Now that their journey is over, they have decided to settle in Portugal. As it turns out, this is one of the few countries in the world with an extremely friendly attitude towards cryptocurrencies. All thanks to the tax, which is 0% on this kind of assets there.

Diversification of global assets

Didi Taihuttu has repeatedly mentioned that he decided to secure his wealth in a special way. It is located in cryptographic wallets placed in special caches, in six countries, located on four continents. He emphasized that the assets are not hidden on desert islands or buried deep underground. These hiding places are, among others, rented apartments or houses of his friends. The exact amount of wealth held by the Bitcoin Family is unknown. However, it is known that 75% of the assets are present in the wallets, with 25% left for permanent trading.

Portugal and its Tax Conditions

Portugal, along with Cyprus, is the only country in Europe, and one of the few in the world, where there is no tax on profits from the sale of cryptocurrencies. Of course, there are some exceptions. They concern payments for goods or services, as well as trading virtual coins as part of a business. Nevertheless, individual market participants experience a real tax paradise there. No wonder that foreign residents in this picturesque state are increasing. In addition to the warm climate and the Atlantic breeze, they are attracted by something more.

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

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