Crypto Friendly Jurisdictions on Fire! (Patreon)

Interesting chart from Bloomberg.  Crypto Millionaires are moving to Portugal - Bloomberg fails to mention that. 

Reasons folks are moving to Portugal:

1. Tax-friendly environment: Portugal has a favorable tax regime for cryptocurrencies. The country does not tax capital gains on crypto assets, as they are not considered as an investment or a form of currency by Portuguese law. This makes it an attractive destination for crypto investors and traders.
2. Golden Visa program: Portugal's Golden Visa program grants residency to non-EU citizens who invest in the country. This has attracted many crypto investors who can benefit from the tax-friendly environment while also gaining residency in a European country.
3. Crypto adoption: Portugal has been at the forefront of crypto adoption, with several crypto-related events and conferences taking place in the country. The government's openness to blockchain technology and cryptocurrencies has created a welcoming environment for crypto businesses and enthusiasts.
4. Crypto-friendly banking: Some Portuguese banks have been more open to working with crypto businesses than banks in other countries. This has made it easier for crypto companies to set up operations in Portugal and for individuals to access and use their crypto assets.
5. Quality of life: Portugal offers a high quality of life, with a pleasant climate, beautiful scenery, and a rich cultural heritage. This has made it an attractive destination for digital nomads and remote workers who value a good work-life balance.

THE ARTICLE FAILS TO MENTION REAL REASON FOR BOOM!

• In 2022, Portugal experienced its lowest level of available housing in 15 years, as reported by Confidencial Imobiliario, a company specializing in property market data.
• Social housing comprises only 2% of the total housing stock in Portugal, marking one of the lowest proportions in the European Union.
• The average cost of a new home in Lisbon has surpassed those in Dublin and Brussels, based on Deloitte’s 2022 Property Index.
• Many Portuguese families earn some of the lowest salaries in western Europe, affecting their ability to purchase homes.
• The housing situation in Portugal has led to a shift where the aspiration for homeownership is often replaced with renting less desirable properties in distant suburbs due to affordability issues.
• The "Bloomberg City Tracker" shows year-on-year percentage changes in housing prices for several cities: Paris, London, Lisbon, Madrid, Stockholm, and Athens, indicating varying trends with some cities experiencing significant price increases.