Posted 12/8/2023, 3:42:00 PM
El Salvador Offers Bitcoin Investors Citizenship, While Locals Face Evictions for Crypto Projects
- El Salvador and Tether launched a program offering citizenship for $1 million in Bitcoin investments
- El Salvador adopted Bitcoin as legal tender in 2021, but adoption was slow and Bukele's Bitcoin spending was disastrous
- Bitcoin supporters have flocked to El Salvador due to its crypto commitment and decreased crime
- The visa program requires a $1 million Bitcoin payment and unspecified "know your customer" process
- Locals in coastal crypto hotspots like El Zonte are facing evictions for Bitcoin-themed development projects