Developers in Portugal’s real estate market saw a new sort of foreign buyer last summer. Their age ranged from 20 to 30 years old; most of them were men; some had spouses and children; all of them had newly-minted fortunes—and an interest in crypto. There was a lot of buzz about Portugal as a hotspot for the cryptocurrency sector, and people from all walks of life were flocking there.
At least 10 properties have been sold to so-called “crypto families” since last summer, according to CEO José Cardoso Botelh. In addition, “some of them are quite well-known globally,” he adds—the bulk of them coming from the United States. Even more cryptocurrency investors and entrepreneurs are expected to join the movement before the end of the decade: Five residences with a price tag ranging from €1 million to €1.5 million have already been pre-sold by Vanguard Property Group.
The favourable fiscal policies of Portugal, one of Europe’s few remaining crypto-havens, have enticed these crypto families to relocate there. In contrast to the majority of European nations, Portugal does not levy any capital gains taxes on individuals who sell cryptocurrencies for their own use.
When the Taihuttus family, or “Bitcoin Family,” recently revealed that they were moving to Portugal, the curiosity of the global crypto community was piqued by this.

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