As a researcher with a strong background in fintech and blockchain technology, I find Alessandro Palombo’s announcement of Unbound Fund’s unique approach to obtaining European Union citizenship through Bitcoin investment incredibly intriguing. Having closely followed Palombo’s career, I have come to respect his innovative thinking and ability to identify untapped markets.
Alessandro Palombo, the co-founder and CEO of Unbound Fund, has shared an innovative method for individuals who own Bitcoins to obtain European Union citizenship through Portugal’s golden visa program.
In a recent post on X, Palombo claims that this innovative fund represents a first-of-its-kind opportunity, allowing investors to acquire exposure to Bitcoin without directly holding it, while simultaneously fulfilling the criteria for Portugal’s Golden Residence Permit Program.
The Portuguese Golden Residence Permit Program is a five-year residency program, open to non-European Union citizens, which grants investment-based residence status. To qualify, applicants must hold Bitcoin valued at 500,000 euros (approximately $542,000) through the Unbound Fund.
Palombo mentioned that the Unbound Fund puts resources into businesses which don’t strive to predict market trends, but rather maintain 100% static Bitcoin ownership. The fund additionally allocates investments in BlackRock exchange-traded funds (ETFs) for added safety and convenience.
In Portugal, where I currently live with my family, Palombo puts great emphasis on utilizing Bitcoin as a means to secure mutual benefits and ensure flexibility in financial transactions.
The cost of Bitcoin reached its maximum at $68,518 on July 22, signifying a new high in the preceding 40-day period. This surge can be attributed to the conclusion of Germany’s Bitcoin sales and heightened anticipation among investors regarding potential US Federal Reserve interest rate reductions in 2024.
The premium on Bitcoin futures contracts reached a five-week peak, reflecting the opinions of experienced traders regarding Bitcoin’s potential to exceed $72,000. As reported by CoinGecko on July 24, the Bitcoin price dipped to $65,550 before rebounding to $66,404.
Palombo holds the view that the European citizen-by-investment program stands out as the most advantageous choice both strategically and technically. He has successfully brought on board clients, and negotiations are underway with collaborative partners to expand the fund’s range of services.
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2024-07-24 18:31