Dutch Bitcoin Family Moves To European Crypto Tax Paradise Portugal

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Last Updated on 8 February 2022 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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Back in 2017, a Dutch family of five made the world news for the first time. Didi Taihuttu, his wife, and their three children all agreed to sell all their worldly possessions and invest it all in Bitcoin, which was trading at $900 by that time.

By the end of 2017, it looks like they would be millionaires when Satoshi Nakamoto’s coin hit a record high of $20k.

In 2020, we reported on them when they were touring the world, living solely on their Bitcoin earning already.

By now, with Bitcoin trading at around $42k, the family are millionaires a few times over and have decided to move to the European tax haven when it comes to crypto, Portugal. The Southern European nation on the Iberian peninsula has a 0% capital gains tax on crypto earnings so perhaps it is time to cash out?

Advertentie.

Capital gains tax

Taihuttu said:

You don’t pay any capital gains tax or anything else in Portugal on cryptocurrency.

If you earn cryptocurrency by providing services in Portugal, you need to pay tax on those cryptocurrencies, but I don’t earn anything, at the moment, in Portugal. So for me, it’s 0% tax. That’s a very beautiful bitcoin heaven.

It would seem that more Dutch people will be making the trip as Didi’s brother and sister are apparently selling their houses and investing that cash into bitcoin as well.

We will all be traveling together as one big bitcoin family which is, of course, really cool.

noname3132 / Depositphotos.com