Invest $100k in Bitcoin Cash & Get a Citizenship In Antigua & Barbuda May 18, 2018 June 15, 2018 Tim Glocks
Analysis NewsMay 18, 2018 by Tim Glocks

Invest $100k in Bitcoin Cash & Get a Citizenship In Antigua & Barbuda

The range of goods, which can be bought using digital currencies, continues to increase as merchants across the globe are slowly adopting to the revolutionary decentralized payment system.

This includes clothing, food, automobiles, weed, and even porn. Now, Coingeek has announced that it would facilitate getting Antigua and Barbuda citizenship in return for investments in Bitcoin Cash (BCH).

The announcement also highlights business opportunities and tax free personal income as some of the advantages offered by the island to someone who invests Bitcoin Cash under the Citizen by Investment Program (CIP).

Coingeek announced

“It is very rare that you get an opportunity to really change how you live, but the Government of Antigua & Barbuda is offering just that. In this globally unique opportunity you can enjoy citizenship in Antigua and Barbuda through the Citizen by Investment Program, using a Bitcoin BCH payment initiative organized by Antigua’s official Bitcoin Envoy Calvin Ayre.”

The announcement also provides a link to “Citizen by Investment program,” where future Antiguans can learn how to contribute to their soon-to-be homeland. Notably, the announcement says “These CIP units from us can only be paid for in Bitcoin(BCH); which the government of Antigua recognizes as the only real Bitcoin and the worlds most scalable and flexible cryptocurrency.”

However, not everyone is pleased with the announcement. Editors of Antigua Observer have questioned the need to accept cryptocurrency, which are well known for their volatility.

The editorial section of Antigua Observer says

“Oh boy, do we have a lot of questions on this one. By accepting Bitcoin Cash, isn’t the government opening itself to significant exchange risks because of the cryptocurrency’s volatility? What will the government do with the Bitcoin Cash it receives?”

The island is already perceived as a refuge people associated with illegal activities, including tax cheats. However, the government is bothered about receiving investments. The CIP page says that a minimum investment of $100,000 is required for Citizenship. However, there is no mention of Bitcoin Cash or any other cryptocurrencies. So, crypto specialists suspect that it was a tailor made deal for Coingeek, which has made the announcement.

Antigua and Barbuda is already turning out to be a paradise for cryptocurrency millionaires. Notably, CoinGeek’s billionaire founder Calvin Ayre recently settled there. He has also announced plans to open a BCH-only “luxury tourist village,” by this summer. The island authorities are also working to establish a cryptocurrency exchange, and the Cabinet has directed authorities to draft laws for legalizing Bitcoin.

AuthorTim Glocks

Tim is a retired professor in economics, this background has enabled him to provide a insight into the cryptomarket. His indepth analysis as well as news on legislations around the world will help you to understand what the state of play is.