If you thought that cryptocurrencies are only used for trading and investing, think twice after you read this latest news.
Becoming an Antiguan Barbudian has never been easier than nowadays. Currently, you need only a little over 12 Bitcoins (BTC) to pay for this citizenship. The news went viral after Antigua and Barbuda’s Citizenship by Investment Program Act was amended by the country’s parliament. This allowed payments to be made using Bitcoin as well as other cryptocurrencies.
Initially announced by the country’s Prime Minister and Minister of Finance & Corporate Governance & Public-Private Partnerships, Hon. Gaston Browne, this resolution was made to help citizenship seekers who own cryptocurrencies.
On top of this, there is no doubt that this program will attract even more people from all around the globe. As Browne told the country’s parliament following the decision:
“And the truth is too, it expands your market because we have a number of cryptocurrency investors who may be quite willing to take up our citizenship but would only pay in cryptocurrencies. If you do not accept the cryptocurrency then you would be literally locked out of that market.”
In order to be eligible for citizenship, individuals must choose to either invest or contribute in the country’s amounts which range from $400,000 and $1.5 million – or make a contribution that totals $100,000 to the country’s National Development Fund.
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UN Thinks Bitcoin & Crypto Are “The New Frontiers” In Finance, Focusing On Ripple And IOTa
“Cryptocurrencies represent a new frontier in digital finance and their popularity is growing. The decentralized networks for cryptocurrencies, bitcoin being a well-known example, can keep track of digital transactions. They enable value to be exchanged and can give rise to new business models which would otherwise require significant regulatory and institutional commitments." the report states.According to the UN, blockchain and crypto have many use cases. As it is explained in the document:
"For example, a value token called ClimateCoin is being considered as a basis for creating a global market for carbon emissions, allowing peer-to-peer exchange of carbon credits and a direct connection with the Internet of Things. It would then be possible for devices to calculate their own carbon emissions and purchase carbon credits to offset those emissions."The document also focuses on innovation and how it comes from inherent trust, citing that "the innovativeness of this system lies in the way in which the various parts combine to create the trust and guarantees that the traditional financial system derives from institutions and regulation."
Wall Street Investors Need ETNs To Join The Crypto Space: CBOE President
“The power of having that future there is also having an ETN that is more attractive to retail, and then institutions can lay that risk off on the listed futures market. [...] Absent that leg and introducing trackers or notes, I think we will be in this, 'It trades every day, but it is not the story.'”He also said that the main reason why regulators did not approve a Bitcoin exchange-traded product such as the (still-pending) ETF applications is that the regulators cannot protect investors from manipulation on a market. “You answer that question, you get your first ETN,” the president of CBOE concluded.
“Bitcoin Is The Only Blockchain That May Exist For The Next 100 Years” : Alistair Milne
“The probability that Bitcoin matches its ATH [all-time high] price again and doesn't then continue past it seems very low. Each wave of adoption is an order of magnitude bigger than the last,” Milne wrote in the Twitter thread that he started on Saturday.Meanwhile, Bitcoin suffered another drop which took it below $3,500, giving less optimism to traders hoping for a new bull run. The new downturn has led to many accusations from high-profile economics figures. However, Milne continued expressing his optimism and said:
“The next bull run will decide which public blockchains persist for the next 100 years. I believe Bitcoin is currently the *only* sure thing[.]”Aside from this, Milne also highlighted the interest by institutional investors and labeled Bitcoin's profile as the "gold 2.0" in the next round of adoption.
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