Billionaire Bitcoiner Departs UK for Swiss Bitcoin City
Tax Changes Prompt Billionaire’s Move
Christian Angermayer, a billionaire investor well-known in the Bitcoin and blockchain sectors, has left the United Kingdom for Lugano, a Bitcoin-friendly city in Switzerland. Angermayer’s departure was driven by the UK’s recent tax policy changes for non-domiciled residents, which he criticized as a “huge mistake” and potentially more damaging than Brexit.
UK’s Non-Dom Tax Policy Sparks Exodus
The UK has long allowed “non-dom” residents to avoid paying taxes on overseas income and earnings for up to 15 years. However, in March 2024, these benefits were significantly reduced to just four years. The Labour Party, led by Prime Minister Keir Starmer, aims to further tighten these regulations by removing inheritance tax breaks on assets held in overseas trusts.
Angermayer expressed strong opposition to these changes, stating, “Every non-dom I know has left or is about to leave.” His family office and asset management business, Apeiron Investment Group, which focuses on biotech, cryptocurrency, and psychedelics, will keep its London office open despite his relocation.
Angermayer’s New Home: Lugano
In September, Angermayer relocated to Lugano, a small town in Switzerland’s Italian-speaking region. Lugano has emerged as a significant Bitcoin hub, with around 250 merchants accepting Bitcoin payments. The city’s crypto-friendly environment has been bolstered by Tether’s efforts to make its payment systems more accessible.
Lugano has also hosted the annual Bitcoin-themed conference, “Plan ₿ Forum,” since 2022, further solidifying its status as a Bitcoin hotspot.
Investments in Bitcoin and Crypto Ventures
Angermayer’s investment portfolio includes significant stakes in various crypto-focused ventures. He invests in Samara Asset Group and Bitcoin miner Northern Data AG. Angermayer reportedly played a key role in introducing Tether to Northern Data, leading to Tether taking a substantial stake in the business in 2023.
Enhanced Games: An Alternative to the Olympics
Beyond his crypto investments, Angermayer is one of the founders of Enhanced Games, an alternative competition to the Olympics where performance-enhancing drugs are encouraged. This venture has garnered support from notable figures, including former PayPal CEO Peter Thiel.
Conclusion
Christian Angermayer’s departure from the UK highlights the impact of recent tax policy changes on high-net-worth individuals and their investment decisions. His move to Lugano underscores the growing appeal of Bitcoin-friendly cities and the evolving landscape of cryptocurrency adoption and investment. As governments worldwide continue to grapple with crypto regulation, the actions of influential investors like Angermayer will likely shape the future of the industry.
