A new Bitcoin investment fund offers Bitcoin holders a pathway to European Union citizenship via Portugal’s golden visa program. To qualify, individuals must invest over $500,000 into Bitcoin (BTC).
Alessandro Palombo, co-founder and CEO of Unbound Fund, announced this innovative opportunity on X, stating that their fund is the first to link Bitcoin investment with Portugal’s golden visa.
Investing in Bitcoin for EU Citizenship Palombo revealed that investors indirectly holding Bitcoin worth €500,000 (about $542,000) through the fund can access Portugal’s Golden Residence Permit Program. This program provides a five-year residency for non-EU nationals investing in Portugal.
The fund exclusively invests in companies with passive Bitcoin holdings, avoiding market timing. Additionally, it will include BlackRock exchange-traded funds (ETFs) for added security and simplicity. Palombo shared:
“It’s time to leverage Bitcoin as a tool for freedom of movement, in partnership with Portugal, a country I have chosen to call home with my family.”
He believes the European citizen-by-investment program offers the best technical and strategic benefits.
Bitcoin Hits 40-Day High On July 22, Bitcoin surged to its highest level in 40 days, peaking at $68,518 on some platforms. Analysts attribute this nearly 20% gain over 10 days to the end of Germany’s Bitcoin sell-off and investor expectations of a U.S. Federal Reserve rate cut in 2024.
The Bitcoin futures premium, indicating trader sentiment, reached its highest point in five weeks, suggesting Bitcoin might breach $72,000 if the bullish trend continues.
However, by July 24, Bitcoin’s price dropped to $65,550 before recovering to $66,404, according to CoinStats.