El Salvador launched the Freedom Visa program earlier this month, offering residency and potential citizenship to those willing to invest $1 million in Bitcoin or USDT stablecoins. Only a maximum of 1000 candidates will be accepted into the program, with Tether offering crucial technological support for business emigration.
Max Keiser, an adviser to the El Salvadoran President, revealed that 153 people had already registered their interest in purchasing citizenship through cryptocurrency donations:
“Currently 153 people have registered. That’s $153,000,000 in donations.”
While some argue that other countries offer citizenship at a lower investment threshold, such as Malta (€750,000), Portugal (€280,000), and Greece (€250,000), El Salvador’s unique approach has attracted significant attention.
Notably, President Nayib Bukele, the driving force behind Bitcoin’s acceptance as legal tender in the country, recently announced his resignation. He cited his decision as necessary to participate as a candidate in the upcoming presidential elections in February 2024.