Bitcoin investors now have a new pathway to European Union citizenship, thanks to an innovative offering from Unbound Fund. Co-founder and CEO Alessandro Palombo has announced that investors holding Bitcoin worth 500,000 euros (about $542,000) through the Unbound Fund can apply for Portugal’s Golden Residence Permit Program. This five-year residence-by-investment program is designed for non-EU citizens seeking residency in Portugal.
Unique Investment Opportunity
Palombo introduced the fund as the first of its kind, allowing investors to hold Bitcoin indirectly while qualifying for the Portuguese Golden Visa. The Unbound Fund focuses on passive Bitcoin holdings and does not attempt to time the market. Additionally, the fund invests in BlackRock exchange-traded funds (ETFs) for enhanced security and convenience.
Bitcoin and Mobility
Palombo, who resides in Portugal with his family, underscores the benefits of using Bitcoin for financial gains and mobility. He emphasizes the reciprocal advantages of this investment approach, which allows Bitcoin holders to achieve greater freedom of movement within the EU.
The price of Bitcoin recently peaked at $68,518 on July 22, marking its highest point in the last 40 days. This surge is attributed to the conclusion of the German government’s Bitcoin sell-off and investor optimism regarding potential interest rate cuts by the US Federal Reserve in 2024. Although the price dipped to $65,550 on July 24, it quickly rebounded to $66,404.
Strategic Investment
Palombo believes that the European citizen-by-investment program offers the best strategic and technical advantages. The Unbound Fund’s passive investment approach, combined with its use of BlackRock ETFs, provides a robust and user-friendly option for investors. Palombo has already onboarded several clients and is collaborating with complementary teams to further enhance the fund’s offerings.
The Unbound Fund presents a groundbreaking opportunity for Bitcoin investors to gain EU citizenship through Portugal’s Golden Residence Permit Program. By holding Bitcoin indirectly and investing in secure assets, investors can benefit from both financial growth and increased mobility within the European Union.
