INSUBCONTINENT EXCLUSIVE:
El Salvador launched a new citizenship-by-investment program targeting individuals willing to invest $1 million in Bitcoin or USDT.The
country has accepted Bitcoin as legal tender for over two years
The program offers 1,000 citizenship spots for a $1 million investment in Bitcoin or USDT.El Salvador Launches Bitcoin-Based Citizenship
(Photo Internet reproduction)It starts with a $999 non-refundable deposit
El Salvador hopes to raise $1 billion if all opportunities are taken.This approach is similar to successful schemes in countries like
Alistair Milne of Altana Digital Currency hedge fund criticized the program.He mentioned on X (formerly Twitter) that EU citizenship costs
Henley - Partners, an investment migration consultancy, reported this.El Salvador might attract cryptocurrency fansHenley - Partners also
noted Caribbean nations near El Salvador.Countries like Antigua and Barbuda, Dominica, and Saint Lucia offer citizenship for a $100,000
development fund contribution.Grenada and Saint Kitts and Nevis have similar programs, requiring contributions of $150,000 and
$250,000.Still, El Salvador might attract cryptocurrency fans.President Nayib Bukele supports bitcoin
June 2019.His crime crackdown started in March 2022, leading to 66,000 arrests
Amnesty International raised human rights concerns about these arrests.Nonetheless, a significant majority of Salvadorans, content with the
recent improvements in peace and security, would readily vote for Bukele in future elections.Bukele started his reelection campaign, leaving
the presidential office on December 1
This was before the February 2024 general elections.
