El Salvador Could Rake In $1B Bitcoin Investment per Year With New ‘Freedom VISA’
Summary
El Salvador has launched the 'Freedom VISA' program, offering long-term residency to those who invest a minimum of $1 million in bitcoin or tether (USDT) stablecoins, with the annual limit set at 1,000 people. The scheme also opens a path to full citizenship. The application costs $999 in BTC or USDT. This initiative, which is the first of its kind, could bring in at least $1 billion annually if the quota is met. El Salvador, which became the first country to recognize bitcoin as legal tender in September 2021, is following a broader plan to decrease its reliance on the U.S. dollar and combat hyperinflation.
