Portugal’s Golden Visa Program Now Accepts Indirect Bitcoin Investments

TLDR:

A new fund offers EU citizenship through Portugal’s golden visa program via Bitcoin investment
Investors need to indirectly hold €500,000+ ($542,000+) in Bitcoin through the Unbound Fund
The fund invests in companies with 100% passive Bitcoin holdings and BlackRock ETFs
This is reportedly the first fund eligible for Portugal’s golden visa program providing BTC exposure
Bitcoin recently peaked at $68,518, its highest point in 40 days

An investment opportunity has emerged for Bitcoin holders seeking European Union citizenship.

The Unbound Fund, co-founded by Alessandro Palombo, now offers a pathway to obtain a Portuguese golden visa through indirect Bitcoin investment.

This innovative approach marks the first time a fund eligible for Portugal’s golden visa program has provided exposure to the world’s leading cryptocurrency.

The Portugal Golden Residence Permit Program, a five-year residence-by-investment initiative for non-EU nationals, typically requires a significant financial commitment. Through the Unbound Fund, investors can now qualify by indirectly holding Bitcoin worth at least 500,000 euros (approximately $542,000).

Palombo, CEO of Unbound Fund, announced the new offering via social media platform X. He emphasized that the fund invests in companies maintaining 100% passive Bitcoin holdings, avoiding attempts to time the market for selling BTC. To enhance security and simplicity, the fund also allocates investments to BlackRock exchange-traded funds (ETFs).

Hold #Bitcoin and acquire Portuguese/EU Citizenship

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

— Alessandro Palombo (@0x_ale) July 23, 2024

The Unbound Fund’s strategy aligns with Portugal’s increasing openness to cryptocurrency investments. Palombo, who resides in Portugal with his family, stated,

“I believe it’s time to use Bitcoin as a tool for freedom of movement in a mutually beneficial way with Portugal.”

He considers the European citizen-by-investment program the best option for both technical and strategic reasons.

This development comes at a time when Bitcoin has been experiencing significant price movements. The cryptocurrency recently reached a 40-day high of $68,518 on July 22. Market analysts attribute this surge to the conclusion of the German government’s Bitcoin sell-off and investor optimism regarding potential interest rate reductions by the U.S. Federal Reserve in 2024.

The Bitcoin futures premium, an indicator of professional traders’ sentiment, hit a five-week high, suggesting positive expectations for future price movements. However, as of July 24, Bitcoin’s price had adjusted to $66,404, according to data from CoinGecko.

Palombo reports that the Unbound Fund has already onboarded customers and is engaged in discussions with complementary teams to expand its offerings. This initiative represents a unique intersection of traditional investment-based immigration programs and the burgeoning world of cryptocurrency.

For potential investors, it’s important to note that while this opportunity provides an innovative path to EU citizenship, it also carries the inherent risks associated with cryptocurrency investments. The volatile nature of Bitcoin prices means that the value of investments could fluctuate significantly over time.

The introduction of this Bitcoin-based golden visa option reflects the growing acceptance and integration of cryptocurrencies in mainstream financial and legal frameworks.

It also highlights Portugal’s position as a forward-thinking jurisdiction in terms of cryptocurrency adoption and investment opportunities.