Bitcoin has just become the only cryptocurrency in the world that has an honor to be called a national currency. We are talking about tiny island Pontinha, a self-proclaimed country off the coast of Portugal. It was founded in October 9, 1903.
The history of the country started when D. Carlos I of Portugal, ancestor of current leader Prince Renato Barros, signed a Regal Letter stating that the territory of the said Principality of the Pontinha, a rock where the Fort of Saint José is located, shall be sovereign.
When Barros first came across the idea of being his own governor, he rebelled against misunderstanding of his family and friends. He had to sell some of his possessions and managed to buy the island.
Last year Barros admitted to the Guardian: “”I have both a Portuguese passport and a passport for Pontinha (where my passport number is 0001). There are four citizens: me, my wife, my son and my daughter. I am the police, the gardener, everything. I am whatever I want to be – that’s the dream, isn’t it?”
“If I decide I want to have a national song, I can choose it, and I can change it any time. The same with my flag – it could be blue today, red tomorrow. Of course, my power is only absolute here, where I am the true sovereign,” he added.
Now Prince Renato Barros dares to talk about the future and says that his good relations with the Brazilian Government could one day open the door of entry to Europe. By the way the island is in the process of being renamed Atlantis after the mythical lost civilization.
Getting a new status of national currency can have a good impact on bitcoin development. There is a possibility to establish a centralised Bitcoin bank and anchor to corporations that can legally represent cryptocurrency fueled companies across the world and cyberspace.
The idea of having a small country with a Bitcoin-based economy is not new. The Isle of Man, a self-governing nation of around 80,000 people, has been attempting to lure Bitcoin-based companies for the past 18 months.
Barros not only contributes to the promotion of bitcoin, but inspires to follow your dreams, no matter how increadible they are. “Our lives are gone in a flash. My son is 27 and if I were his age, I would probably sell the island and buy a Ferrari. But I am 56 years old, and I want to enjoy everything I have. Pontinha means “a point”. All change in the world begins with something very small, and this is my country – just a little point.”