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

Share this article

More news

Bitcoin

Bitcoin soars, an aftermath of new ETF news

The price of Bitcoin has soared to new heights, reaching $35,000. This phenomenon was accompanied by the dynamic development of the Bitcoin ETF space. The iShares spot…
All articles loaded
No more articles to load

Learn

block halving

What is block halving?

In this article, we will introduce you to the concept of block halving. To do this, you first need to…
51% attack

What is a 51% attack?

In this article, we will explain what a 51% attack is in the context of cryptocurrency. A distributed network =…
smart contracts

What are smart contracts?

Smart contracts are a type of electronic contract used not only in blockchain technology, but also in everyday life, for…
what are cryptocurrency nodes

What are cryptocurrency nodes?

Most cryptocurrencies operate on the principle of distributed transaction systems, running on a P2P, or peer-to-peer, network. In practice, this…
block explorer

What are block explorers?

In this article, we discuss a free online search engine that allows you to browse the contents of a blockchain…
All articles loaded
No more articles to load

Analyses

All articles loaded
No more articles to load

Latest news

Expert predicts Ripple IPO date

Wall Street financial expert Linda Jones has shared details of Ripple’s anticipated IPO date. Her analysis indicated potential dates, but the current market context and…

Poloniex ready to fully resume its operations

Poloniex, one of the leading cryptocurrency exchanges, has declared its imminent resumption of operations after a recent hacking incident that resulted in gigantic outflows of…
All articles loaded
No more articles to load