El Salvador's Bitcoin millionaire investor visa program fails
Despite positioning itself as a crypto-friendly haven for Bitcoin investors, El Salvador’s “Adopting Bitcoin” program has yet to gain traction among its target audience.
A recent investigation by Salvadoran news outlet El Mundo revealed that no passports have been issued under the program, which was designed to offer “freedom passports” to Bitcoin investors donating $1 million in BTC or USDT to the country. This initiative aimed to attract 1,000 investors and raise $1 billion to support El Salvador’s economy, reports BitcoinNews.
The General Directorate of Migration and Immigration, responsible for issuing these passports, confirmed that no documents had been issued through the program, contradicting social media claims of successful applications. Reports had suggested that at least two families received passports through the fast-track process, and Canadian broker Satstreet’s co-founder, Jon Lister, was mentioned as an early participant. In February, Bukele’s Bitcoin advisor, Max Keiser, indicated that demand was high, with 110 visa requests reportedly in process. However, no official data has been released to confirm these claims, raising questions about the program’s actual impact.
Despite early enthusiasm and assurances from government advisors, the program’s apparent lack of progress suggests that El Salvador may face challenges in attracting Bitcoin investors on the scale it had hoped for.
Recently we wrote, that in a notable gesture of goodwill and regional solidarity, President Nayib Bukele of El Salvador has donated two Bitcoins to build schools in Honduras.
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