Posted 12/13/2023, 3:39:28 AM
El Salvador Offers Bitcoin-Backed Residency to Attract Up to 1,000 Crypto Investors
- El Salvador launched $1 million "Freedom Visa" program on Dec. 7th, offering residency visa and pathway to citizenship for 1,000 people willing to donate in Bitcoin or Tether
- National Bitcoin Office says it has already received hundreds of inquiries and "many dozens of applications" since launch
- Expects program to fully sell out 1,000 slots before end of 2023 due to high interest level
- Program offers incentives like Bitcoin as legal tender, no capital gains tax, and no taxes for tech/crypto firms
- Launch part of President Bukele's pro-Bitcoin policies before stepping down on Dec. 1st to focus on 2024 re-election campaign