Crypto enthusiasts now have a new and exciting opportunity to gain European Union citizenship through an innovative investment fund. Alessandro Palombo, co-founder and CEO of Unbound Fund, has unveiled a groundbreaking initiative that allows investors to obtain Portuguese citizenship by investing in Bitcoin (BTC).
The fund enables investors to indirectly hold Bitcoin worth 500,000 euros (approximately $542,000) and qualify for Portugal’s Golden Residence Permit Program. This program offers a five-year residency initiative for non-EU nationals, and Unbound Fund is the first fund to qualify for this program through BTC exposure.
Unbound Fund focuses on investing in companies with a 100% passive Bitcoin holding, avoiding market timing. Additionally, the fund will allocate investments in BlackRock exchange-traded funds (ETFs) for added security and simplicity.
Palombo expressed his belief in using Bitcoin as a tool for freedom of movement in collaboration with Portugal, a country he has chosen to reside in with his family. The fund has already onboarded several customers and partners, with plans to expand its offerings by engaging with complementary teams.
As of the latest update, the price of Bitcoin is $64,136, showing a slight decrease over the past day and week. This initiative not only showcases the evolving utility of BTC but also highlights Portugal’s attractive residency options for global investors.
In related news, billionaire entrepreneur Mark Cuban has suggested that Bitcoin could potentially become a global reserve asset, further emphasizing the growing significance of cryptocurrencies in the financial landscape.
With a background in Economics and extensive experience in the FinTech industry, Aaron, the writer of this news story, brings a wealth of knowledge and expertise to the crypto space. His data-driven and fact-based approach ensures that readers receive accurate and insightful information about digital currencies and blockchain technology. Aaron’s passion for educating others about the crypto market makes him a trusted source for industry insights and trends.
