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Strategy advisor to spot Bitcoin ETF issuer VanEck and Tether Gabor Gurbacs has shared that Hollywood star famous for films about Conan The Barbarian and the “Terminator” franchise, Arnold Schwarzenegger, got in trouble at Munich airport.
Being a Bitcoin advocate, Gurbacs sort of hinted that Bitcoin could have solved the problem easily.
Schwarzenegger unable to make fiat pre-tax payment
According to a report by CNN, earlier this week, the legendary Austrian actor was held up at Munich airport for failing to declare an expensive watch that he wore upon his arrival into the Bavarian capital.
Now, according to CNN, the “Terminator” and former California governor will face criminal tax proceedings. A customs officer at the Munich airport told CNN that Schwarzenegger violated a rule of mandatory declaring a product from a non-EU country imported into the European Union that was meant to remain in the EU.
Arnold Schwarzenegger held at Munich airport after failing to declare a watch upon arrival. He offered to co-operate and prepay taxes but the officer couldn’t make the payment terminal work for an hour.
— Gabor Gurbacs (@gaborgurbacs) January 20, 2024
The EU is a joke. H/T: @conormyhrvold https://t.co/LhoNDuPFDZ
Schwarzenegger was held at Munich airport for two hours and then was released. He did not declare a watch made by Swiss company Audemars Piguet, a luxury watch brand, which he planned to sell at an auction in Austria for charity purposes.
The actor and former U.S. politician offered to make a potential tax payment in advance. However, customs officers were unable to use a bank card machine.
Bitcoin fixes this
Finally, Schwarzenegger was taken to a bank where he withdrew some cash. However, the ATM limit was too low and the bank was closed. When they returned to the airport, an officer had brought a new portable bank card terminal, so the actor was finally able to pay. The amount paid by the actor was not revealed.
“The EU is a joke,” Gabor Gurbacs added as if hinting that a payment could have been made in Bitcoin much faster and without having to make Schwarzenegger go anywhere and then back to the airport.
In order to conduct a transaction in Bitcoin, one needs just a smartphone or a laptop connected to the Internet. Depending on the wallet or the cryptocurrency exchange where the payer holds their Bitcoin, a transaction can take from a few minutes to a few hours. Still, Bitcoin Lightning Network allows making micropayments in BTC a lot faster.