Combining cryptocurrency and immigration policy, a new investment option will enable Bitcoin holders to purchase European Union citizenship. Powered by the Unbound Fund, this initiative uses Bitcoin as a key to open up Portuguese citizenship via the country’s golden visa program.
It also identified a pioneering approach towards a massive step forward in accepting digital assets within international mobility or residency rights.
An EU Citizenship Pathway Via Bitcoin, How?
Alessandro Palombo, co-founder and CEO of Unbound Fund, recently unveiled this option through a post on Elon Musk’s social media platform X. According to Palombo, by investing in Bitcoin through the fund, individuals can now qualify for Portugal’s Golden Residence Permit Program.
To qualify, investors must hold the fund’s Bitcoin equivalent of at least 500,000 euros (around $542,000). This is an indirect holding, to meet the financial criteria established by Portugal Immigration policy.
Palombo elaborates that the fund’s investment strategy is firmly rooted in long-term holding rather than speculative trading, focusing on companies that maintain a 100% passive Bitcoin position.
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
For added protection and convenience, 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. It makes it more attractive to investors who would see the benefit in investing their BTC outright through a straightforward and solid EU residency mentality.
A Strategic Mobility?
Notably, the program is seen as Portugal’s answer to attracting non-EU nationals, allowing them a pathway to residency—and potentially citizenship—through investment.
Although, 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.
Featured image created with DALL-E, Chart from TradingView