BITCOIN: ALBUQUERQUE PROMOTES MADEIRA’S POTENTIAL

Tobi Hughes·
Madeira News

This has all been flying round social media today, its something I really dont understand, and not at all Interested in.

The President of the Regional Government, Miguel Albuquerque, is in the United States participating in ‘Bitcoin 2022’, the largest international cryptocurrency conference that started on Wednesday and ends tomorrow, in Miami, Florida.

At the event, which is taking place at the Miami Beach Convention Center and which brings together more than a hundred speakers, the Madeiran official made a point of highlighting the main attractions of the Region, underlining the economic, tourist and tax sectors.

From Jornal Madeira

Two New Territories Are Adopting Bitcoin.

Prospera, jurisdiction on the Roatán island off of the northern coast of Honduras, and Madeira, an autonomous region in Portugal, are adopting bitcoin as de facto legal tender—the latest territories to do so, following El Salvador’s official recognition of the asset in September 2021.

Continue reading on Forbes Website

II have read a lot of comments about this and it seems it can not be a legal tender currency unless the EU agree, so not sure where all this leads. 

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Tobi Hughes

11 Responses

  1. There is nothing about legal tender in Madeira on Forbes site, only this: “Bomgar and Mow were joined by Miguel Albuquerque, president of the Regional Government of Madeira in Portugal, who announced that Madeira’s residents won’t need to pay personal income taxes when buying or selling bitcoin”. And this is de facto current status quo over whole Portugal, although there is no clear legislation yet.

  2. I am following the Crypto phenomenon and agree and support Albuquerque’s involvement in the new age of money. It is a pity that most Madeiran’s prefer Ponzi schemes. Crypto is not for everyone but the adoption by our literate population has been very slim. Wake up and tread carefully. .

  3. Tread very carefully the rise and fall in value can be huge, research in depth before committing any of your hard earned money

  4. Haven’t a clue what this is all about. I know George Galloway says he was advised to get in at the start and he has made a good profit. I’ll stick to my bank.

  5. A big story…. A clever president, a fiber connected island, low taxation, good quality English spoken, low crime and a well educated young population. This is only positive for Madeira and good for the future.

    1. I have serious reservations about crypto, but completely agree with you. It’s likely to have some new place and Albuquerque is like a dog with a bone about promoting Madeira as an up and coming competitive option on the world stage, good on him.

      I’ve never seen him once in jeans. Clothes matter at these things!!!

  6. Miguel Albuquerque is this where you have hidden the missing government funds? People have lost a lot money in crypto currency in the past and will continue to do so avoid at all costs.

    2. I would not trust a word this gangster Miguel Albuquerque spouts. The island is in a huge mess, people need to open their eyes and look around.

  7. This is huge guys. Most important thing a country can do these days.
    Fiat money is trash. The sooner people realize it is the best storage of value the better for everyone.

    1. Store what you like. No amount of bitcoin, digital, precious metals or FIAT currency will be sufficient to buy commodities that are fast becoming rare resources.

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