With the rise of social media influencers, cryptocurrency has become much more than a lifestyle. Many have made careers out of promoting tokens like bitcoin. It is this kind of influencer that is contributing to the recent influx of expats in a significant way.
One family helping to pave the way for others is the self-professed “Bitcoin Family”. In 2017, the family of five sold most of their belongings and dedicated the money to Bitcoin. More recently, they decided to relocate to Portugal. The family’s patriarch, Didi Taihuttu, says that he hopes to create a “crypto village” in the Algarve by running the community through the use of a decentralised autonomous organisation—a member-owned community without centralised leadership.
Wout Deley, an expat from Belgium, has lived in Portugal for some years now. He claims that by immigrating, he was able to double his crypto profits because cryptocurrency carries massive tax burdens in his home country. He believes that this “crypto migration” is a net positive for Portugal.
