Madeira’s Regional Government Head, Miguel Albuquerque, has announced a unique Bitcoin-focused business area to spur technological evolution and international collaborations.
Miguel Albuquerque, President of Madeira’s Regional Government, confirmed the launch of a business center exclusively centered on Bitcoin and its related technologies. In a conversation with Prince Filip Karađorđević of Serbia at Bitcoin Amsterdam 2023, the initiative is viewed as a pivotal move towards advancing technology and fostering global ties.
In a strategic economic shift, Madeira, a self-governing region of Portugal, is ramping up its investments in contemporary tech sectors. This emphasis on areas like artificial intelligence, high-tech, and particularly Bitcoin, accentuates Madeira’s ambition to position itself as a center of innovation. Albuquerque highlighted that the concept for this exclusive business district sprang from a group of dedicated experts. The Bitcoin center seeks extensive cooperative ventures and welcomes all who wish to join. Importantly, Madeira holds a receptive stance on Bitcoin, backed by laws that exempt Bitcoin investments from personal income tax within the territory.
At the Bitcoin Miami 2022 event, Madeira garnered attention for its forward-thinking Bitcoin strategies. The region not only welcomed Bitcoin but also offered tax benefits for its investors, effectively liberating them from personal income taxes.
Karađorđević, present during the disclosure, underscored the global partnership opportunities this venture could unlock. Both leaders underscored the transformative impact this endeavor could have in stimulating innovation and accelerating technological advancement worldwide.
With its 250,000 inhabitants, Madeira is seizing the prospects ushered in by this Bitcoin-centric approach, outlining a progressive blueprint for its economic horizon.