Today on day two of Bitcoin Amsterdam 2023, the President of Madeira Miguel Albuquerque, alongside Prince Filip of Serbia in a fireside chat, announced the creation of a Bitcoin business hub in the region to foster innovation. 

“Last night you showed me the picture of what will be the new Bitcoin business hub,” said Prince Filip. “The association has been created to develop the development of technology and Bitcoin, and all the connections and partnerships you can have. It started with some guys in Madeira who work really hard, and it’s open to everyone who wants to collaborate,” responded President Albuquerque.

Prince Filip then went on to tell the president that he’s very happy the region of Madeira is embracing Bitcoin, calling it “a technology for the future” and an “open, secure protocol akin to the internet.” Filip, a staunch Bitcoin advocate and CSO at Jan31, has been helping educate lawmakers around the world on the benefits of nation state Bitcoin adoption.

“We’re changing our economic [base] for technological companies, high tech, artificial intelligence, and Bitcoin of course,” said the Madeiran president. “Everything that is connected with Bitcoin is welcome in Madeira.”

At The Bitcoin 2022 conference in Miami, it was announced that Madeira was embracing Bitcoin and that BTC investors will pay no personal income taxes in the region. “I believe in the future and I believe in Bitcoin,” said President Albuquerque last year. “Individuals in Madeira that buy and sell bitcoin … don’t pay taxes. They’re not subject to personal income taxes.”

Earlier this year, a delegation of Bitcoiners visited Madeira to discuss Bitcoin with the President Albuquerque, and to see the progress of its adoption across the region, which can be viewed below.