Published
March 22, 2024
Category

If You Invest In Crypto, You Need to Think About Getting A Second Passport

Whether they know it or not, many new investors are attracted to cryptocurrency for its volatility — the tendency for it to spike up to stratospheric highs. Yes, it can tumble just as quickly, but that’s almost part of the fun (as long as you can afford to wait for it to come back).

But the volatility of crypto is not unique. Small-cap stocks and private equity can be just as volatile — just as susceptible to big runs and dips. Seasoned investors come to crypto for a different reason. And it’s no coincidence that you see those seasoned investors also getting multiple passports. 

They may seem like separate activities — investing in crypto and obtaining multiple passports — but the logic that leads to one also leads to the other.

Empires Fall

The unique appeal of cryptocurrency is that it is not dependent on any government institution.

That’s why it is so often called “digital gold.” You can take gold to any country — or even a lawless warzone — and it will be respected as currency. 

So too with Bitcoin, Ethereum, and other cryptocurrencies — as long as they are in robust demand (and despite the big cycles, the demand for crypto is only growing), they will hold value regardless of where you are in the world. 

Compare that to fiat currencies, government bonds, and real estate. They are intimately tied to their country of origin. Even public or private stock is beholden to the country or jurisdiction where it incorporates and pays taxes.

If those jurisdictions should fall to war or political instability — and we have seen more than our share of both within the last few years — the value of those assets could be severely impacted … even lost altogether.

Seasoned investors, therefore, come to cryptocurrency not just for exposure to volatility, but also out of an entirely valid distrust in the stability and longevity of empires. 

Think about it. Where are the Romans? The Persians? The Mongols? The Ottomans? Their descendants still populated areas where they used to operate huge empires that spanned centuries and seemed invincible. All of them collapsed, leaving a power vacuum to be filled by warlords and robber barons operating under no rule of law, but only the principle that might make right. 

The gentry of those empires fled with what they could carry. Many lost fortunes in the collapses — even their heads.

Your Second Passport – A Life Raft in an Ocean of Chaos

That’s why cryptocurrency investors need to consider a second passport — because empires fall. 

To be clear, when we talk about getting a “second passport,” we mean becoming a citizen of another country — and with it, the rights of citizens of that country to travel, qualify for visas, and repatriate i.e. exit the country they are in to return to their home country. 

Becoming a citizen is extremely difficult in countries like the US in Japan … but for other countries, it is actually extremely easy. In some cases, it’s as simple as making a grant to the government or investing in local property. 

Clear the necessary hurdles, and you can be a citizen within months — a citizenship that is transferable to your spouse and children, in some cases even a citizenship that is irrevocable, even after liquidating the qualifying investment.

How does this tie in to cryptocurrency? 

Traditional wealth is tied to geopolitics — but so are people. You may think you have the right to travel, but your right to travel is intimately tied to a) your citizenship, and b) the country you happen to be in. Countries routinely restrict access to citizens of certain countries, and if your own country decides to revoke your passport, that’s it — you’re stuck.

Think about some of the wars we have seen break out or escalate in recent years. Imagine the benefits of having a second passport if:

  • War broke out in your own home country and military-aged males (or others) were denied the right to leave … but citizens of other countries are allowed to leave! With a passport in hand to the island nation of Antigua & Barbuda, officials cannot stop you from “repatriating” to your second home.
  • Your home government collapsed and, fearing an influx of refugees, countries worldwide started restricting immigration by citizens of your country. But if you hold a passport for another country, not only could you go “home” to that second country, but you would enjoy all the travel benefits that come with citizenship to that country. The aforementioned Antigua & Barbuda, for example, is a British Commonwealth nation, with many of the visa-free travel rights and privileges of British citizens, despite being much easier to get than British citizenship.

That’s how a second passport relates to cryptocurrency. Cryptocurrency can help you get your wealth out of a chaotic situation … but a second passport can help you and your loved ones escape with your lives. 

If you have decided to take the leap into cryptocurrency, a second passport should be on your radar. All the portable, government-free wealth in the world is worthless if you find yourself stuck in a dangerous situation, yours and your loved ones’ lives in danger and with no way to get out.

With a second passport, you can get out. With cryptocurrency, you will have buying power once you are safely away. If you think it can never happen to your superpower nations, remember the Romans and the Ottomans. They seemed invincible … until they weren’t.


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