One Million Dollar ‘Freedom Visa’: El Salvador’s New Citizenship Program
El Salvador has introduced a groundbreaking “freedom visa” program, offering residency and a citizenship pathway for international investors committing $1 million in Bitcoin (BTC) or Tether (USDT). Designed for wealthy individuals shaping the nation’s future, the initiative is part of El Salvador’s broader strategy to attract global investment. Limited to 1,000 participants annually, the program aims to bring a potential $1 billion yearly influx to the country.
Despite the attention garnered, critics, including Digital Currency founder Alistair Milne, find the program uncompetitive globally, noting that EU citizenship could be obtained at a lower cost. The move follows El Salvador’s historic adoption of Bitcoin as legal tender in 2021, positioning the country at the forefront of cryptocurrency integration. The “freedom visa” underscores the intersection of blockchain, economic development, and governmental strategy, potentially reshaping global investment dynamics.
El Salvador’s commitment to blockchain is reinforced by CEO Paolo Ardoino, emphasizing the partnership’s role in advancing technology and empowering nations. As the nation pioneers cryptocurrency adoption, the “freedom visa” represents a unique convergence of economic development, technology, and government policy, setting a precedent for similar initiatives globally.
