El Salvador's Bitcoin 'Freedom Visa' Predicted To Reach Full Subscription By 2023
Portfolio Pulse from Mehab Qureshi
El Salvador's National Bitcoin Office (ONBTC) expects its 'Freedom Visa' initiative, in collaboration with Tether, to be fully subscribed by the end of 2023. The program offers residency and citizenship for a $1 million donation in Bitcoin or Tether. The initiative could inject $1 billion into the Salvadoran economy annually, and the country's Bitcoin bond, the 'Volcano Bond,' is set to launch in Q1 2024.
December 13, 2023 | 11:46 am
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POSITIVE IMPACT
El Salvador's 'Freedom Visa' initiative could increase demand for Bitcoin as it requires a $1 million donation in BTC, potentially impacting its price positively.
The 'Freedom Visa' program directly involves Bitcoin as a form of donation, which could lead to increased demand and potentially a positive impact on Bitcoin's price in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
The 'Freedom Visa' program also accepts Tether (USDT) for the $1 million donation, which may influence its usage and visibility, but not necessarily its price as it is a stablecoin.
While the program accepts Tether, it is unlikely to have a significant impact on USDT's price due to its nature as a stablecoin, but it could affect its usage and visibility.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 80