Boost

2024

Bitcoin

April

El Salvador, renowned for its adoption of Bitcoin as legal tender, has launched a new program designed to attract skilled workers and bolster its economy based on the cryptocurrency.
President Nayib Bukele revealed a $5 billion fund allocation to give citizenship to 5000 foreigners, in the status of scientists, engineers, doctors, and artists. These people will have their passports letting them vote and there will be no taxes, tariffs, or rates on them.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 We're offering 5,000 free passports (equivalent to $5 billion in our passport program) to highly skilled scientists, engineers, doctors, artists, and philosophers from abroad. This represents less than 0.1% of our population, so granting them full citizen status, including…— Nayib Bukele (@nayibbukele) <a href="https://twitter.com/nayibbukele/status/1776733270186545406?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">April 6, 2024</a>
 </blockquote>
 </div>
</figure>
Besides introducing the space to launch the Bitcoin-centered initiatives, El Salvador has other Bitcoin-focused apparatus as well. The country has recently opened such a physical vault which will be utilized for safe bitcoin storage, and has also seen its first bitcoin diploma class graduate.
Bitfinex joins collaborations to establish Salvador as a prominent player in Bitcoin mining, leveraging the country’s geothermal energy resources. While the novelty of El Salvador adopting Bitcoin is generating mixed reactions, it is nonetheless putting the country in the spotlight.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/04/08/lumoz-raises-6m-for-zk-raas-platform-expansion/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Lumoz Raises $6M for ZK-RaaS Platform Expansion</a>
</blockquote>

El Salvador Offers Free Passports to Boost Bitcoin Economy

The Crypto Times

Other articles published on Apr 9, 2024

Can The Kelexo (KLXO) Lending Sensation Take Your Portfolio To New Heights This Year? Bitcoin (BT...

Enthusiasm for Bitcoin ETFs Wanes After Seven Weeks of Euphoria

Cat In A Dogs World: MEW Slumps 24% As New Multi-Chain Meme Coin Dogeverse Races Towards $500K On...

BitMEX Co-Founder Ben Delo to face class-action lawsuit, judge rules

Illuvium and Samsung Forge a Strategic Partnership

Solana’s transaction issue ‘not a design flaw,’ exec says

Join our free newsletter for daily crypto updates!