El Salvador’s Crypto Visa: Million-Dollar Ticket to Bitcoin Bliss Sparks Global Interest!

The National Bitcoin Office of El Salvador reported a surge in interest for its $1 million Freedom Visa program since its launch on December 7. In an email statement to Cointelegraph, an ONBTC spokesperson revealed that the program had garnered hundreds of inquiries and received “many dozens of applications” through both online and in-person channels at embassies and consulates. Developed in collaboration with stablecoin issuer Tether, the Freedom Visa is a citizenship-by-donation initiative introduced by the El Salvador government, offering residency and a pathway to citizenship for 1,000 individuals making a $1 million Bitcoin or Tether donation.

The ONBTC spokesperson emphasized that the program has an annual cap of 1,000 slots.

Despite some market analysts, like Altana Digital Currency CIO Alistair Milne, deeming El Salvador’s million-dollar visa program as “uncompetitive” compared to offerings from countries like Malta, which provide full European citizenship for $810,000, the National Bitcoin Office defended the program’s $1 million price tag. The spokesperson asserted that, if anything, the program is underpriced, emphasizing that while numerous citizenship programs exist globally, there is only one “Bitcoin Country.”

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Maria Irene
Maria Irenehttp://ledgerlife.io/
Maria Irene is a multi-faceted journalist with a focus on various domains including Cryptocurrency, NFTs, Real Estate, Energy, and Macroeconomics. With over a year of experience, she has produced an array of video content, news stories, and in-depth analyses. Her journalistic endeavours also involve a detailed exploration of the Australia-India partnership, pinpointing avenues for mutual collaboration. In addition to her work in journalism, Maria crafts easily digestible financial content for a specialised platform, demystifying complex economic theories for the layperson. She holds a strong belief that journalism should go beyond mere reporting; it should instigate meaningful discussions and effect change by spotlighting vital global issues. Committed to enriching public discourse, Maria aims to keep her audience not just well-informed, but also actively engaged across various platforms, encouraging them to partake in crucial global conversations.

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