El Salvador has introduced the ‘Freedom Visa‘ program, targeting wealthy crypto investors with a minimum investment of $1 million in Bitcoin or Tether (USDT).
Collaborating with Tether Global, the program offers visas and citizenship to 1,000 participants annually, requiring a non-refundable $999 application fee. While facing criticism for its high costs compared to other countries, the program aligns with El Salvador’s pro-crypto stance, notably adopting BTC as legal tender in 2021.
Despite concerns, the program reflects the government’s commitment to economic development and innovation, appealing to the global Bitcoin community.
El Salvador‘s visa program is likely to appeal to the Bitcoin community due to the country’s favorable stance on cryptocurrency. The country holds 2,700 BTC in its treasury, resulting in over $3 million worth of unrealized profit.
As President Bukele seeks re-election and steps down from office on December 1, the ‘Freedom Visa’ program aligns with El Salvador’s commitment to economic development and innovation, signaling the government’s ongoing support for the crypto ecosystem.
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