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How the Saint Lucia Citizenship By Investment Program Can Benefit Crypto Investors Seeking a Tax Haven

  Photo by yousef alfuhigi on Unsplash Cryptocurrency investors are always on the lookout for tax-efficient solutions to minimize their tax liabilities. One option that is gaining popularity among investors is the Saint Lucia Citizenship By Investment Program. In this article, we'll explore how this program can benefit cryptocurrency investors looking for a tax haven country. Saint Lucia is a sovereign island country located in the Caribbean Sea. Its Citizenship By Investment Program (CIP) was established in 2015, allowing investors to obtain a second passport by making a qualifying investment in the country. Saint Lucia's CIP has become a popular choice for high-net-worth individuals and entrepreneurs seeking a safe haven to protect their assets and minimize their tax liabilities. Saint Lucia's second passport permits travel to 145+ global countries visa-free, including the United Kingdom, Singapore, Hong Kong, as well as the European Union countries. The Saint Lucia pass

Grayscale Market Outlook

.As institutional investors struggle to hold onto the volatile and dangerous digital assets, the price of bitcoin is facing a high surrender rate. Fears of extremely high volatility on the downside have been stoked by speculations of a potential bankruptcy for Grayscale and its affiliated entities. Additionally, shares of Grayscale's Bitcoin Trust $GBTC, a $5.6 billion BTC fund, are trading at a record low in relation to the price of one Bitcoin.
Some Bitcoin fans, notably Cathie Wood and her Ark Investment, have been hoarding as Grayscale's GBTC trends worse since its launch. Since FTX filed for bankruptcy, Cathie Wood reportedly purchased 450,000 GBTC shares through Ark Investment. Meanwhile, as bullish expectations build for a potential Christmas surge, the price of bitcoin dangerously clings to recent support discovered at $17,000. Furthermore, in the previous fourth quarters and subsequent months, the price of bitcoin has consistently increased in value.

The fundamental value of Bitcoin has decreased, but the market has become more resilient since the collapse of FTX. For example, El Salvador, a long-time Bitcoin user, recently declared that it buys 1 BTC every day. Additionally, regulators from around the world are learning to distinguish between Bitcoin networks and blockchain businesses. Despite issues reported by associated blockchain companies, the Bitcoin network has not been corrupted.

The Bitcoin network has around 51 million unique addresses as holders. This occurs at a time when Bitcoin's hashrate reaches all-time highs of about 287.5 (EH/s) and its mining difficulty is around 34.24 trillion.

Additionally, Grayscale Investments has declared that OTC Markets Group now offers public investors access to its fund that focuses on decentralized finance (DeFi). The 15th digital currency investment product produced by Grayscale that trades on OTC Markets is the Grayscale Decentralized Finance Fund (DeFi Fund), which started trading on OTC Markets on Friday under the ticker DEFG.