President of Madeira Announces Bitcoin Business Hub to Drive Innovation
The President of the Regional Government of Madeira, Miguel Albuquerque, has revealed plans to establish a Bitcoin business hub aimed at fostering regional innovation. This announcement was made during a fireside chat with Prince Filip Karađorđević of Serbia at the Bitcoin Amsterdam 2023 event.
Interest and Collaboration Opportunities
Prince Karađorđević expressed his interest in the Bitcoin business hub, highlighting its significance in technological development and partnerships. President Albuquerque emphasized that the hub originated from a group of dedicated professionals and is open to collaboration with anyone interested.
Madeira’s Embrace of Bitcoin
Madeira, an autonomous region of Portugal, has been supportive of Bitcoin by implementing policies that exempt Bitcoin investors from paying personal income taxes in the region. Prince Karađorđević praised Madeira for its forward-thinking approach to embracing Bitcoin as a secure and open protocol similar to the internet. As an advocate for Bitcoin adoption, he actively promotes its advantages to global lawmakers.
Economic Focus on Technology and Bitcoin
President Albuquerque stated that his government is shifting Madeira’s economic focus towards technology, high-tech industries, artificial intelligence, and Bitcoin. This aligns with the region’s aim to foster innovation and attract businesses in these sectors.
Madeira’s Previous Commitment to Bitcoin
In 2022, during the Bitcoin Miami conference, it was announced that Madeira would adopt Bitcoin as a means of payment. Residents who invest in BTC are exempt from personal income taxes. President Albuquerque expressed his confidence in Bitcoin’s future and its potential to benefit the people of Madeira.
Hot Take: Madeira Pioneering Bitcoin Innovation
Madeira’s initiative to establish a Bitcoin business hub demonstrates its commitment to driving innovation and embracing digital currencies. By creating an environment that encourages collaboration and supports technological development, Madeira aims to position itself as a leading hub for Bitcoin-related businesses. This forward-thinking approach not only promotes economic growth but also solidifies Madeira’s reputation as a pioneer in the adoption of cryptocurrencies.
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