El Salvador is creating new opportunities for Bitcoin investors to encourage participation in the crypto community and strengthen its technological development.
El Salvador has announced a new visa program called Adopting El Salvador Freedom Visa Program, through which it seeks to attract Bitcoin investors, to encourage their participation in the socioeconomic and technological development and growth of the country.
This visa program, which was launched last week, will grant full citizenship of El Salvador to 1.000 investors per year, who invest at least $1 million in BTC or USDT.
According to Tether, the company that develops the stablecoin USDT, the goal of this program is Strengthen economic expansion from El Salvador and driving transformative social change, which will allow the country to become “a dynamic global hub for cutting-edge technology and financial innovation” that accompanies cryptocurrencies and the blockchain industry.
By investing in Bitcoin or USDT, individuals will be able to become “integral partners” of the country, sharing the vision of making El Salvador a pioneering center of crypto innovation.
El Salvador, a pioneering center for innovation and financial freedom
Tether CEO Paolo Ardoino commented that the Freedom Visa program represents a unique opportunity for the crypto community to use its technological capabilities to foster growth and innovation in the country and the region.
Although some experts opined that the $1 million investment requirement in BTC or USDT, imposed to be able to participate in the visa program, is extremely high Compared to what other Latin and Caribbean nations offer, Ardoino emphasized that this is an investment to drive significant change and empower the nation, to build a future in which innovation and progress go hand in hand.
Commenting on this Bitcoin visa program, Gabor Gurbacs, founder of PointsVille and advisor to Tether and VanEck, commented that it could motivate many Bitcoin investors to make El Salvador their new home. According to Gurbacs, this is an incredible development, both for the country and for the crypto community.
However, there are those who consider that, although the adoption of Bitcoin by El Salvador is something incredible, the amount of $1 million dollars, to obtain citizenship through investment, is very high. “There are countries that offer a similar path for much less, which makes it more accessible for those who want to contribute,” said X user @Sc0ttTheRobot.
El Salvador's unrelenting support for Bitcoin
The launch of this new Bitcoin visa program will allow the country to invest in strategic sectors, which are key to ensuring its growth as a nation.
According to what was explained by the company, the resources invested by Bitcoin holders, interested in obtaining full citizenship of El Salvador, will be used to finance the construction of new learning facilities for students, improve medical infrastructure and guarantee a widespread access to services essential. In addition to this, the resources will help Strengthen the country's infrastructure, including transportation and communication networks.
“These projects aim not only to uplift communities, but also to lay the foundation for a more prosperous future for all Salvadorans.”
In addition to this visa program, El Salvador has launched other initiatives that seek to improve its attractiveness as a safe haven country for Bitcoiners and the crypto community.
Not only Nayib Bukele's government policies are driving El Salvador's leadership in the crypto industry, being the first country in the world to pass a law to declare Bitcoin legal tender. El Salvador is also building new facilities to Mining BTC with clean energy and, among other things, has a project to create a Bitcoin City, which will be a metropolis to accelerate hyperbitcoinization.
In 2022, El Salvador has committed to buying 1 BTC daily and recently shared an educational video stating the reasons why it will not sell the Bitcoin it owns. According to the nation, Bitcoin is the money of the future.
Continue reading: The reasons why Bitcoin will turn El Salvador into a country with abundant wealth
