The Crown Prince of Liechtenstein, also renowned as the tax haven in Europe showed a positive attitude towards investing in Cryptocurrency as he found future in it. His positive remarks are considered as chances of the upcoming investment from a wealthy state.
The Crown Prince of Liechtenstein, Alois also stated that it is a good way to radiate his family’s wealth. The royal family was earlier involved in the restoration of restoration art that was sold at the time of world war II. Now, when the majority of restoration is accomplished, the family is looking forward to investing in prevailing virtual assets.
In an interview with CNBC, Crown Prince Alois stated that he is lacking the expertise to invest in digital currency. But this situation may change with time. Further, mentioning about the small and wealthy state, Liechtenstein Alois said that it may enter into Blockchain Technology.
Talking about Blockchain Technology, Alois said that it can bring a lot of change. It can be used for the better administration of Liechtenstein.
Following these statements, it can be said that miners and investors may find a new hub for their purpose. After China’s prohibition on cryptocurrency, major of miners turned towards Japan and it gathered even more attention. Before welcoming miners Prince Alios needs to compare Liechtenstein infrastructure and virtual token adoption rate with Japan.
Talking about benefits we can say that Liechtenstein can get involved into a profitable affair of gaining huge tax revenue through crypto transactions.
As per sources an economist based in Tokyo, Takashi Shiono commented Virtual Tokens can get 1 Trillion Yen in capital gain taxes from investors.
Fall in Prices of Bitcoins:
The continuous falling value of Bitcoins that was valued around $6,127 with a market capitalization of $103 Billion as the currency is creating an alarming bearish environment. The circulation of currency increased on Sunday followed by new laws.
Liechtenstein’s investment in the crypto market could likely promote acceptance of Bitcoins in Europe especially when the price is touching new bottom on daily basis.
Source: Applancer