Antigua and Barbuda, an idyllic West Indies paradise spread over two islands. The country is to become one of the first that is set to accept Bitcoin as a currency through which ex-pats can purchase an official Antiguan Barbudian citizenship.
In order to pay your way in, you will need to save around $100,000.00, therefore this is no cheap feat, however, with the introduction of Bitcoin payments this may become a far more realistic concept for many people. Hey, if you’re holding and are wondering what you spend your Bitcoin riches on, here’s an option for you.
As it stands, you would need around 12.25BTC to purchase an Antiguan Barbudian citizenship.
The real exciting prospect here is of course the acceptance of Bitcoin as a part of the countries new Investment Programme Act which has been established by the countries Prime Minister, Hon. Gaston Browne.
The idea of this is that the country will be able to attract new citizens who have masses of cryptocurrency with no real avenue through which to spend them. According to CCN, Browne has said:
“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.”
You can see the full article for yourself, here.
It’s nice to see a Prime Minister recognise the fact that they need to start accepting cryptocurrencies otherwise they will be at risk of ‘being locked out of the market’ and actually, I think this is quite a cool idea, albeit a very expensive one.
But hey, if you’ve got dead crypto locked away and fancy a move to the Caribbean then why not.