Invest in Bitcoin, Get Residency: El Salvador’s Unique ‘Freedom VISA’

El Salvador Bitcoin. Source: RawBeautyPixels/Adobe

El Salvador has a new, “once in five hundred years” offer for international crypto whales: donate your BTC to the government, and you’ll earn long-term citizenship in Bitcoin country.

As announced by Tether on Thursday, the “Adopting El Salvador Freedom Visa Program” is designed to attract “visionary individuals” including “high-net-worth investors” from around the globe to help empower El Salvador’s vision of economic expansion and societal progress.

Only 1000 people are eligible for the program each year, and they must put forward $1 million in either Bitcoin (BTC) or Tether (USDT) to participate. Tether has been chosen as the initiative’s technology provider.

“This partnership reinforces our dedication to advancing technology, empowering nations, and enabling individuals to invest in a future where innovation and progress go hand in hand,” said Paolo Ardoino, CEO of Tether, in a statement.

In return for their donations, participants will receive a “Freedom Visa” in El Salvador, including eligibility for long-term residency and citizenship, similar to the Golden Visa program in other nations.

According to the initiative’s website, donated funds will go toward “economic development, cultural enrichment, and social programs meant to achieve maximum economic development and rebirth.”