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Are you holding more than $500,000 in Bitcoin? If so, you could be entitled to Portuguese citizenship.
Alessandro Palombo, the co-founder, and CEO of Unbound Fund, said that those holding €500,000 (US$542,000) in the Unbound Fund will be eligble for the Portugal Golden Residence Permit Program.
The program is Portugal's five-year residence-by-investment scheme for non-EU nationals.
Unbound Fund will invest in companies with 100% passive Bitcoin holdings and will also invest in BlackRock's ETFs for "security and simplicity."
“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,” Palombo said on X.
Hold #Bitcoin and acquire Portuguese/EU Citizenship
— Alessandro Palombo (@0x_ale) July 23, 2024
It is now possible to acquire Portuguese/EU citizenship by indirectly holding #Bitcoin worth €500K.
I am excited to introduce https://t.co/DgqCyGTfgv
Unbound Fund is the first Golden Visa eligible fund that gives you… pic.twitter.com/SVJjjg8x70
Palombo added that the fund has already onboarded customers and the firm is "in discussions with complementary teams."
According to the recently updated Henley Passport Index, Portugal has the joint-fifth (tied with Australia) strongest passport in the world.
"There's no better EU citizenship by investment program than the European one, for both technical and strategic reasons," Palombo said.
Europe is seemingly becoming a hotbed for crypto activity, with more crypto firms launching their products on the continent.
In May, trading platform Robinhood chose Europe to debut its first crypto-staking product as well as a new suite of features for the region.
Blockhead
Meanwhile, Interactive Brokers launched crypto trading for its UK clients. Both individual and institutional investor clients are able to trade crypto assets including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
