El Salvador launches "Investment Citizenship" program, allowing citizenship for an investment of 1 million USD in BTC or USDT

ChainCatcher news, according to Cointelegraph, El Salvador has launched a new "Investment for Citizenship" program, which will issue residency visas and a pathway to citizenship for 1,000 individuals willing to invest $1 million in BTC or USDT in the country. Tether supports El Salvador's free visa program through technical assistance.

It is reported that the process requires a non-refundable deposit of $999 in the form of Bitcoin or USDT. If all slots are filled, it will raise $1 billion for El Salvador.

In nearby Caribbean countries, similar investment citizenship programs start at $100,000, while a pathway to citizenship in an EU country is priced slightly above $800,000.

Alistair Milne, founder of the crypto hedge fund Altana Digital Money, commented that El Salvador's product "is not competitive in the global market," emphasizing that EU citizenship can be purchased for less money.