The New York TimesThe New York Times

There's no crypto winter on Portugal's 'bitcoin beach'

By Adam Satariano

29 Sep 2022 · 5 min read

Editor's Note

Cryptocurrencies have been in meltdown, and crypto companies have been going bankrupt. But on the Portuguese seaside, optimism remains high and the mantra is: “We don’t sell.”

LAGOS, Portugal — The Bam Bam Beach bitcoin bar, on an uncrowded beach in southwestern Portugal, is the meeting place.

To get there, you drive past a boat harbor, oceanside hotels and apartment buildings, then park near a sleepy seafood restaurant and walk down a wooden path that cuts through a sand dune. Yellow bitcoin flags blow in the wind. The conversations about cryptocurrencies and a decentralized future flow.

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