Citizenship by investment. El Salvador is now known for its innovative positions in relation to Bitcoin. With the latest operation, the next eruption of its “Volcano Bonds” announced for the beginning of 2024. A project supposed, at least in part, to allow the construction of a city named Bitcoin City. And, probably in order to accommodate a few wealthy maximalists, 1000 Freedom Visa at $1 million are being distributed to the highest bidders. A program whose demonstrated success could be closed before the end of the year.
Salvador: a citizenship by investment program
THE citizenship by investment programs are not new. What is more so in the case of El Salvador is the demand to see these privileges regulated with the help of Bitcoin or the stablecoin USDT. A strategic obviousness, since the Tether company positions itself as the designated manager of this initiative.
It is also through the voice of its new CEO Paolo Ardoino that this initiative – Visa of Freedom – has been officially revealed. A project led by the local Bitcoin Office. With the ambition to “foster an environment in which individuals contribute to shaping a new socio-economic landscape for El Salvador. Freedom would therefore have a price…
“This collaboration marks a crucial step in our commitment to economic development and innovation. The El Salvador Freedom Visa Program provides an extraordinary opportunity for individuals to actively participate in shaping a prosperous future for our nation. »
Adriana MiraDeputy Minister of Foreign Affairs of El Salvador
A limited edition “Freedom Visa”
In fact, this “ Freedom Visa » costs the modest sum of 1 million dollars. A real fortune compared to neighboring countries, whose nationality sells for $100,000 for the most accessible, issued by the Caribbean.
This is why this offer is considered non-competitive by many observers, in view of the $810,000 needed to purchase a Maltese passport.
“On the contrary, in fact, it is undervalued. Although there are many citizenship programs available around the world, there is only one Bitcoin country. »
Bitcoin Office
A collection with 1000 copies, open since December 7. And yet success seems to be there.
In any case, that’s whatasserts officially the Bitcoin Office. This body intended to support the adoption of BTC in the territory of El Salvador. Indeed, this Freedom Visa would already be a success. With “several dozen applications” in progress. And, “based on the current level of interest, (…) the program will be sold out by the end of the year “.
Details of participation in this program are available on the official website of the Ministry of Foreign Affairs of El Salvador. And this starts with the obligatory – and non-refundable – deposit of a advance of $999. A sum to be withdrawn from the million dollars paid in order to finalize this procedure.
El Salvador continues its development focused on Bitcoin. At the same time, the initiator of this dynamic, Nayib Bukele, replays his position as president in the next elections. And it is not the few Freedom Visa holders who will be able to change things.