Do You Own $1M In Bitcoin? If Yes, You Can Permanently Move To Crypto Haven El Salvador
Portfolio Pulse from Murtuza Merchant
El Salvador has launched the 'Adopting El Salvador Freedom Visa Program' to attract investors by offering citizenship to those who invest $1 million in Bitcoin (BTC) or Tether (USDT). The program is capped at 1,000 participants per year and aims to inject $1 billion into the Salvadoran economy. The investment will fund social development projects and position El Salvador as a tech and financial innovation hub.
December 08, 2023 | 4:23 pm
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El Salvador's new visa program could increase demand for Bitcoin as it requires a $1 million investment in BTC for citizenship.
The program's requirement for a $1 million investment in Bitcoin could lead to increased demand for BTC, potentially impacting its price positively in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The new visa program by El Salvador may also impact Tether as it accepts a $1 million investment in USDT for citizenship.
Acceptance of Tether for the $1 million investment required for the visa program could lead to increased usage and demand for USDT, potentially affecting its stability and usage.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80