In simple terms, El Salvador, known for making Bitcoin legitimate currency, introduces a new initiative to bring in talented professionals and strengthen its economy reliant on cryptocurrency.
President Nayib Bukele announced plans to invest $5 billion in granting citizenship to approximately 5,000 foreigners with expertise in fields such as science, engineering, medicine, and arts. Upon obtaining their new passports, these individuals will be granted the right to vote and will not be subjected to taxes, tariffs, or other fees.
We’re giving away 5,000 free passports, which equates to a $5 billion investment in our passport scheme, to exceptional foreign professionals in the fields of science, engineering, medicine, art, and philosophy. This accounts for under 0.1% of our population, so granting them full citizenship, including all associated rights and responsibilities, is:
— Nayib Bukele (@nayibbukele) April 6, 2024
In addition to unveiling a space for initiating Bitcoin projects, El Salvador boasts other Bitcoin-dedicated facilities. Notably, the country has recently introduced a physical vault for secure Bitcoin storage. Furthermore, El Salvador’s first Bitcoin degree graduates have emerged from its educational system.
Bitfinex teams up with partners to make Salvador a major player in Bitcoin mining, utilizing the country’s abundant geothermal energy. The news of El Salvador embracing Bitcoin has sparked diverse opinions, but it certainly draws attention to the nation.
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2024-04-09 01:08