House of Liechtenstein Is Ready to Invest in Cryptocurrency

February 6, 2018

Prince Regent of Liechtenstein Alois Philipp Maria von und zu Liechtenstein in an interview with CNBC said that blockchain technology and cryptocurrency might help the Princely Family of Liechtenstein restore its wealth. 

He told:

"Particularly with this whole new digital economy, it is something to look into more into in the future."

Liechtenstein is an associated with Switzerland Central European microstate with the population of less than 40,000 people. It is considered an offshore and one of the most popular tax havens of the world, which brings the largest share of principality's revenue. Although, the royal family plans to turn Liechtenstein into a legitimate financial center.

The country is headed by Prince of Liechtenstein Hans-Adam II, however de facto head of Liechtenstein is his son, Prince Regent Alois. After the Second World War, the royal family experienced financial struggles and was forced to sell their large art collection, although since then its financial situation became more balanced and the family bought back most of the collection. 

Now, the House of Liechtenstein is considering investing in new asset classes, such as bitcoin or other cryptocurrencies. Prince Regent Alois notes currently cryptocurrencies as assets are still very risky, though he thinks that blockchain technology has many advantages and the family might use it in order to simplify the administration of the principality.

He said:

"Blockchain will change a lot of things, it could even help make our state more efficient the way it is administered."

However, Alois noted that the House of Liechtenstein has yet to conduct a detailed study of cryptocurrencies in order to decide whether to invest in them or not. Though he stated, that this might change very soon.

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