Crypto enthusiasts now have a new path to European Union citizenship through an investment fund.
Alessandro Palombo, co-founder and CEO of Unbound Fund, announced on X that this fund allows investors to obtain Portuguese citizenship by investing in Bitcoin (BTC).
Investors who indirectly hold Bitcoin worth 500,000 euros (around $542,000) via the fund can qualify for Portugal's Golden Residence Permit Program, a five-year residency initiative for non-EU nationals. It is the first fund to qualify for this program through BTC exposure.
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The Unbound Fund invests in companies with a 100% passive Bitcoin holding, avoiding market timing. It will also allocate investments in BlackRock exchange-traded funds (ETFs) "for security and simplicity."
Palombo stated:
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.
He also mentioned that the fund has already onboarded several customers and partners and is actively engaging with additional complementary teams to expand its offerings.
At the time of writing, the price of Bitcoin stands at $64,136, a 3.59% decrease over the past day and a 1.03% drop over the past week.
This fund highlights not only the evolving utility of BTC but also Portugal's attractive residency options for global investors.
In other news, billionaire entrepreneur Mark Cuban has recently suggested that Bitcoin might be on the way to becoming a global reserve asset.
