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<a href="https://bitcoinworld.co.in/bitcoin-investment-fund-opens-doors-to-portugals-citizenship/" title="Bitcoin Investment Fund Opens Doors To Portugal’s Citizenship" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">A new Bitcoin investment fund has started offering Bitcoin holders a way to become European Union citizens through Portugal’s golden visa program.&nbsp;</li>
 <li style="font-weight: 400">Interested persons only need to invest over $500,000 into Bitcoin (BTC).</li>
</ul>
In an X <a href="https://x.com/0x_ale/status/1815683546670858685" rel="noopener noreferrer nofollow">post</a>, Alessandro Palombo, the co-founder and CEO of Unbound Fund, announced the possibility of gaining Portuguese citizenship by investing in Bitcoin (BTC).
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Hold <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> and acquire Portuguese/EU Citizenship
 It is now possible to acquire Portuguese/EU citizenship by indirectly holding <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> worth €500K.
 I am excited to introduce <a href="https://t.co/DgqCyGTfgv" rel="noopener noreferrer nofollow">https://t.co/DgqCyGTfgv</a>
 Unbound Fund is the first Golden Visa eligible fund that gives you… <a href="https://t.co/SVJjjg8x70" rel="noopener noreferrer nofollow">pic.twitter.com/SVJjjg8x70</a>
 — Alessandro Palombo (@0x_ale) <a href="https://twitter.com/0x_ale/status/1815683546670858685?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 23, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Palombo claims that their fund is the first of its kind to be eligible for the Portuguese golden visa program by providing exposure to BTC.
<h3 id="span-style-font-weight-400-indirectly-holding-over-500-000-in-bitcoin-could-land-eu-citizenship-span">Indirectly Holding Over $500,000 In Bitcoin Could Land EU Citizenship</h3>
According to Palombo, investors indirectly holding Bitcoin worth 500,000 euros (about $542,000) through the fund will be eligible for the Portugal Golden Residence Permit Program, the country’s five-year residence-by-investment program for non-EU nationals.
Palombo said the fund invests in companies with 100% passive Bitcoin holding and is not trying to time the markets for selling BTC.&nbsp;
In addition, the fund will also invest in BlackRock exchange-traded funds (ETFs) for “security and simplicity.” Palombo wrote:
“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.”
The executive believes that, for technical and strategic reasons, the European citizen-by-investment program is the best.
Palombo also claimed they have already onboarded customers and are currently discussing with complementary teams.
<h3 id="span-style-font-weight-400-bitcoin-reaches-highest-level-in-40-days-span">Bitcoin Reaches Highest Level In 40 Days</h3>
On July 22, Bitcoin’s price rose to its highest in 40 days, peaking at $68,518 on some platforms.&nbsp;
Analysts believe the gains of almost 20% in 10 days could be attributed to the end of the German government’s Bitcoin sell-off and investors’ confidence in the United States Federal Reserve cutting interest rates in 2024.
Because of the asset’s bullish momentum, the Bitcoin futures premium, a way to gauge the sentiment of professional traders, reached its highest level in five weeks.&nbsp;
Analysts believe that Bitcoin derivatives suggest the possibility of breaching the $72,000 milestone should Bitcoin continue its run.
However, on July 24, the BTC price quickly dropped to $65,550 before recovering. According to data tracker CoinStats, the asset is currently at $66,404.

Bitcoin Investment Fund Opens Doors To Portugal’s Citizenship

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