🇵🇹 Let's Relocate

How to get a Portuguese passport through Bitcoin investments. Plus, a fresh Bitcoin miner price target.

Author

Sebastian Soran
July 24, 2024

You're receiving this email because you're subscribed to Future Finance from Benzinga. To manage your subscription, click the link at the bottom of this email.

Happy Wednesday, Zingernation! Dogecoin’s dog days may soon be numbered because its first golden cross in 4 years is drawing nearer.

Today, we look at how to get a Portuguese passport by holding Bitcoin, an updated price target for Iris Energy stock and more.

Plus, our partner shares the world’s most bizarre trading strategy.

MARKET SNAPSHOT

TOP STORY

Briefly: A Bitcoin-oriented startup has announced the launch of a fund that allows Bitcoin holders to acquire Portuguese citizenship.

So Basically: The so-called “Unbound Fund” offers to acquire Portuguese citizenship by indirectly holding Bitcoin worth €500,000 ($542,000) through a Golden Visa eligible fund.

So Then: Under Portuguese law, investing a minimum of €500,000 in a qualifying investment can make one eligible for a so-called Golden Visa.

So What: As the first Golden Visa-eligible fund offering exposure to Bitcoin, Unbound Fund could set a precedent for similar initiatives in the future.

TOGETHER WITH TIM

This Millionaire trader’s best performing strategy is the most bizarre thing I’ve ever seen.

Step 1: He looks for a specific catalyst in the news on Friday. 

Step 2: He places one simple trade around 2:59 pm.

Step 3: And if all goes to plan… He cashes in on Monday.

He’s used this simple 3-step strategy to make $8,780… $9,518… and even $16,159 on the weekend. And his new exclusive training will show you exactly how to do it yourself. 

He usually only offers this training to his students for over $2,000 a year. But right now for a very limited time, he’s offering it for just $7!

FIVE ZINGERS

Hope: Dogecoin’s first weekly golden cross, a bullish chart pattern, in four years may only be two to three green weeks away, traders promise.

Dangerous: A proposed 30% tax on Bitcoin mining is a “blatant attack” on American excellence, a pro-crypto senator said.

Determined: Peter Schiff asked Bitcoin holders on his social media account whether they would sell if Bitcoin falls below $15,000.

Surprising: Kamala Harris’ administration is in talks with the Bitcoin conference organizers about a possible appearance this weekend.

Funded: Peter Thiel’s Founders Fund is one of the investors in Pudgy Penguins, which raised $11 million to build a consumer-focused blockchain.

FINTECH FOCUS

Briefly: Canaccord raised its share price target for Iris Energy to $15, up from $12.

What Happened: “The company is building a massive 510 megawatts (MW) of data centers in 2024 and secured 2,160 MW of power capacity,” the analysts wrote.

What Else: This is particularly relevant for Iris Energy, which faced a short-seller attack earlier this month questioning the suitability of its Childress, Texas site for AI and HPC.

Why It Matters: The company has multiple avenues to monetize its infrastructure, including Bitcoin mining, AI cloud services, and AI colocation.

BEFORE YOU GO

Were you forwarded this email? Click here to subscribe.

And be sure to check out our other newsletters:

Ring The Bell: Created for market enthusiasts by market enthusiasts, this twice-daily newsletter delivers top stories, fast movers, and hot trade ideas straight to your inbox. Subscribe here.

Cannabis Daily: A must-read daily briefing for cannabis investors, operators, and enthusiasts. Join our list of industry veterans to jump start your morning. Subscribe here.

Real Estate Weekly: Where we highlight the movers and the losers, the upgrades and the downgrades, the top stories and opportunities in the trillion dollar REIT and real asset industry. Subscribe here.

Mining Weekly: Get an insider's edge with news, analysis, and commentary on what’s shaping the mining and commodities industry that powers the global economy. Subscribe here.