El Salvador launches citizenship program for investment It will provide residency visas as well as citizenship for 1,000 people willing to invest $1 million worth of Bitcoin or USDT in the country.
However, the price for citizenship is much more expensive than in neighboring Caribbean countries. This starts at $100,000.
Government of El Salvador and issuer of stablecoin Tether has announcedThe program was launched on December 7 and is called “Adopting El Salvador Freedom Visa Program.”
The project will offer citizenship to 1,000 wealthy investors who pledge to “invest $1 million in Bitcoin or USDT,” starting with a non-refundable deposit of $999 that will be credited to the total.
If this project reaches its full capacity of 1,000 people, the country will have an investment of $1 billion. and will be an important source of income for the country.
Alistair Milne, founder of Altana Digital Currency, posted on X (Twitter) that El Salvador’s proposal was “Unable to compete in the world market” andWe emphasize that we can buy citizenship in the EU at a cheaper price.
refer : cointelegraph.com
picture coinculture.com
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