The Bitcoin Family Emigrates to Portugal Where Bitcoin Tax is 0%

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Ever heard of the Bitcoin family? The Taihuttus from the Netherlands made the headlines in 2017 where they sold everything they owned to buy Bitcoin. At the time, Bitcoin’s value was $900, and many considered it a bubble investment. It eventually burst and lost value, but the patriarch, Didi Taihuttu, wasn’t backing up.

The family of five believed in Bitcoin and traveled all across Europe, never setting down roots. In the meantime, Bitcoin went over their initial investment price, roaring to $69,000 in November last year. No one knows how many Bitcoins the Taihuttus bought, and they aren’t sharing details too. After years on the road, they’re finally thinking about setting down roots in one European country – Portugal.

Why Portugal?

Settling down is a big thing for the Dutch family. They’ve traveled the world as Bitcoin nomads for five years. In their time on the road, they’ve visited over 40 countries, always looking for a country with low BTC taxes. They’ve eventually found a Bitcoin haven in Portugal, where the tax is 0%. It was a destination that was too enticing to ignore, and from the moment they arrived, they loved it.

Didi says that Portugal is a “very beautiful” Bitcoin heaven. He’s truly set his sights on Portugal as their new home, and we can understand that decision after years on the road. Tax perks in Portugal are a big deal, and the country offers a very safe and pleasant way of life. It’s one of the best countries for expats according to experts, and is also ranked 4th on the Global Peace Index.

While the Taihuttu’s precise Bitcoin fortune is not known, Didi says that he safeguards in secret vaults on 4 continents. However, with five years on the road, it is surely big enough to fund their adventure. They’ve been to countries where the tax is pretty high and where Bitcoin gets a hostile reception. However, that could all change in Portugal, which the Bitcoin family could once again find a home.

A Rare No-Tax Bitcoin Zone

Europe is more open to the idea of cryptocurrencies than the USA. In the States, Bitcoin is treated like property, being subject to high taxes. While some European countries have slapped tax on it too, Portugal remains a tax-free zone.

This makes Portugal an attractive destination for Bitcoin fans, especially those like the Taihuttus. He’s not the sole family member that might move there. His brothers and sisters are selling their properties and pouring money into Bitcoin. They like Portugal too, so there might be more than five Taihuttus living there soon.

It’s one of the latest crypto havens in Europe, unless the government changes its stance on Bitcoin. Such a move is not expected soon, which is great news for Didi. Residents of Portugal must pay crypto taxes if they earn crypto by providing services, but that won’t be a problem for the Taihuttus.

They seem to finally find a new home, and after five years of looking for it, it’s beautiful.

February 9, 2022: • No Comments

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