El Salvador Expects Crypto Visa to Sell Out Before End of Month
El Salvador’s National Bitcoin Office (ONBTC) has stated that the country’s Freedom Visa for crypto investors is likely to sell out its 1,000 spots before the end of the month. According to ONBTC, there has been a significant number of inquiries and applications, both online and in-person, at embassies and consulates.
$1 Million Price Tag for El Salvador Bitcoin Freedom Visa Deemed “Fair”
El Salvador recently introduced a visa program that grants citizenship to those who invest $1 million in BTC or USDT. The price tag has received mixed reactions, with some in the crypto community claiming it is uncompetitive. However, the National Bitcoin Office believes the price is fair, stating that there is currently no other country that offers citizenship based on Bitcoin investment.
Appealing Program Due to Friendly Legal Framework
Despite the high entry cost, the program is expected to attract many crypto supporters due to El Salvador’s favorable legal environment. The country has approved Bitcoin bonds and will launch them in Q1 next year. It also does not impose capital gains taxes on Bitcoin investors and has removed taxation for crypto firms operating within its borders.
Hot Take: El Salvador’s Crypto Visa Gains Popularity
El Salvador’s Freedom Visa for crypto investors has generated significant interest, with a high number of inquiries and applications. While the $1 million price tag has received mixed reactions, the National Bitcoin Office believes it is fair and underpriced. The program’s appeal lies in El Salvador’s friendly legal framework, which includes regulatory approval for Bitcoin bonds and favorable taxation policies. As a result, the visa program is expected to sell out before the end of the month, solidifying El Salvador’s position as a leading destination for crypto investors.
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