Bitcoin Holders Can Now Purchase European Union Citizenship, Combining Cryptocurrency and Immigration Policy
- WBOYOriginal
- 2024-07-25 14:53:251042browse
Powered by the Unbound Fund, this initiative uses Bitcoin as a key to open up Portuguese citizenship via the country's golden visa program.
A new investment option has emerged, merging cryptocurrency and immigration policy, allowing Bitcoin holders to purchase European Union citizenship.
The initiative, powered by the Unbound Fund, utilizes Bitcoin as a key to open up Portuguese citizenship via the country’s golden visa program. It also marks a significant step forward in accepting digital assets within international mobility or residency rights.
Alessandro Palombo, co-founder and CEO of Unbound Fund, announced the option in a post on Elon Musk’s social media platform X. According to Palombo, investing in Bitcoin through the fund now qualifies individuals for Portugal’s Golden Residence Permit Program.
To be eligible, investors must hold the fund’s Bitcoin equivalent of at least 500,000 euros (around $542,000) in an indirect holding to meet the financial criteria established by Portugal Immigration policy.
Palombo stated that the fund’s investment strategy focuses on long-term holding rather than speculative trading, with companies maintaining a 100% passive Bitcoin position.
The fund also eliminates security-specific risk by investing in particular BlackRock exchange-traded funds (ETFs) to further its diversification.
In this way, the dual approach secures the investment and makes it more attractive to investors who would see the benefit in investing their BTC outright through a straightforward and solid EU residency mentality.
The program is seen as Portugal’s answer to attracting non-EU nationals, allowing them a pathway to residency—and potentially citizenship—through investment.
However, Palombo added more context. In his view, this program is not only about returns but using Bitcoin to enable freedom of movement across borders in a “mutually beneficial way with Portugal.”
Apart from the financial operations, Palombo’s appreciation of Portugal’s program hints at an even bigger picture in this kind of novel funding mechanism. Palombo noted:
“I believe it’s time to use Bitcoin as a tool for freedom of movement in a mutually beneficial way with Portugal, a country I have chosen to live in with my family. There’s no better EU citizenship by investment program than the European one, for both technical and strategic reasons.”
So far, interest from prospective investors has emerged since the program was implemented, and Palombo revealed ongoing discussions about developing and widening the offerings for Unbound Fund.
The above is the detailed content of Bitcoin Holders Can Now Purchase European Union Citizenship, Combining Cryptocurrency and Immigration Policy. For more information, please follow other related articles on the PHP Chinese website!