Within a decade of its inception, Bitcoin has already brought forward a global transformation. It holds the lion’s share of the worldwide crypto cap with a market capitalization of approximately $835 billion. A Dutch family accurately predicted the present bitcoin relevance, liquidated all their assets, and transferred them into Bitcoins. Today, they are popularly known as the Bitcoin Family, traveling around the world as crypto tourists.
The Bitcoin Family
The Bitcoin Family consists of the patriarch Didi Taihuttu. In 2017, the family liquidated all of their assets, including a 2500 sq. ft. house and other material properties. They used the acquired capital to purchase Bitcoins. Bitcoin was then valued at $900. The current valuation, even after dropping over 40% from its recent all-time high in November 2021, is near $43,000.
The massive profit allowed the Taihuttu family to embrace a decentralized digital nomadic lifestyle. Comprising of 3 daughters, the 5-member family traveled to over 40 different countries in the past 5 years. They have finally settled down in Portugal- widely known as Europe’s crypto haven with 0% bitcoin taxation.
Crypto Tourism: Current Scenario
Similar to the Taihuttus, a growing section of crypto investors are taking an active interest in crypto tourism. And as such, there is significant crypto development activity in nations that thrive on tourism. The Thailand government has already greenlit the ground framework in attempts to bolster recovery in its huge tourism industry. The negative impact of the global pandemic can be significantly reversed with crypto-friendly legislation.
Portugal is currently the biggest draw among crypto-friendly settlement locations. The country views cryptocurrency as a payment form, and capital gains from crypto transactions are non-taxable. The country is not too expensive and has beautiful locales. It also ranks 4th in the Global Peace Index and is the best nation for expatriates.
Also Read : Top Cryptocurrencies to Invest in 2022
Lessons to learn from the Bitcoin Family
It is safe to assume that the Taihuttus acquired a reasonably huge amount of wealth to be able to travel across the world for 5 years. While they did not disclose the exact amount, Mr. Taihuttu has been handling the family’s crypto wealth and revealed that their wealth has been safely distributed across 4 continents. A valuable tip for people with large crypto wealth- keep your crypto stash in separate wallets.
Crypto tourists looking to settle in new areas should settle in places where there is zero taxation and widespread crypto adoption. According to Mr. Taihuttu, 6 new families have followed a similar approach and are reaping the benefits of the crypto-nomad lifestyle, powered by Bitcoin. His siblings are likely to join him in Portugal, reportedly putting their residences on sale and making Bitcoin investments.
Finally, making social contributions and serving others is key to joy and making the world a better place. While starting, they decided their journey should be all about accumulating happiness instead of wealth. Giving away a significant section of their wealth to charities, the Taihuttus have built a school in Mexico, along with an orphanage in Venezuela.
As crazy as it may sound, the digital nomad lifestyle based upon cryptocurrencies is not a farce and is actually feasible. With zero taxation on cryptos, Portugal is one of the best options for crypto investors looking to immigrate.