Controversial millionaire Calvin Ayre says he is building a $100 million tourist resort on Antigua which he is funding with profits he made from trading the cryptocurrency Bitcoin.
Ayre says work has already begun on the resort to be located on Antigua’s Valley Church beach.
Ayre, who pleaded guilty to a single federal misdemeanor last year after nearly a decade on the run from the US investigators, said the Ayre Resort would be entirely funded by profits made from the rise in value of bitcoin in which he was an early investor.
Ayre is a special economic envoy for the island state where he carries the title of “his excellency.” Island officials are supporting the project.
“We expect the resort’s novel and exciting concept to broaden Antigua and Barbuda’s tourism product and bring a new category of tourists to our islands,” said Prime Minister Gaston Browne. “We look forward to working with Mr Ayre on this resort and the many other investments he has made in Antigua.”
Ayre, 56, said all Antiguan’s can benefit from the resort.
“This resort will attract a totally new market segment of tourism on the island—successful wellness-seekers who also want to have fun, he said in a press statement. “The property will not be an all-inclusive destination. Instead, its amenities will be available to residents of Antigua and Barbuda and visitors alike.”
The resort will also accept bitcoin cash at point of sale terminals on the property and through its online booking engine, the release said.
Ayre was the creator of online site Bodog, which was targeted by U.S. authorities for taking illegal bets.
Ayre said his actions were legal because of a complex series of financial transactions on three different continents. Felony charges against Ayre, Bodog and three other Canadian men were dropped last year.
In some other Bitcoin notes:
Iran’s Central Bank has issued a statement saying it does not plan to recognize cryptocurrencies as official currencies. There had been reports that the country was interested in Bitcoin as a way around international economic sanctions.
“The wild fluctuations of the digital currencies along with competitive business activities underway via network marketing and pyramid scheme tactics have made the market of these currencies highly unreliable and risky,” read a statement from Iran’s Central Bank.
The statement also said the bank was working on a mechanism to “control and prevent digital currencies in Iran.”
However, other reports suggested that Iran may be considering creating its own cryptocurrency. Venezuela has recently launched a new cryptocurrency called the petro, which is reportedly backed by the South American country’s oil reserves.
Venezuelan officials said the issuance of the cryptocurrency was made to offset the devaluation of its national currency.
Finally, Bitcoiin2Gen has named actor Steven Seagal as its brand ambassador ahead of its Initial Coin Offering next month.
“Steven Seagal is a man of diverse character whose spiritual beliefs and humanity are woven into every aspect of his life,” the company said in a press release.
Bitcoiin2Gen says it uses the Ethereum blockchain to process transactions faster than the original Bitcoin. Founded in September 2016, Bitcoiin2Gen is promoting itself as a “self-sustaining cryptocurrency with its own ecosystem, its own wallet, its own mining machines and the ability to exchange the coin to popular alt-coin currencies.”
The company, however, said Seagal’s endorsement should not be construed as investment advice “as neither he nor we ever advised so”.
“Mr. Seagal has millions of followers across the world, and by his influence now we are reaching to them, which was never possible through our other marketing strategies,” the company said.
