El Salvador Offers 5,000 Free Passports to Bitcoin Enthusiasts

El Salvador unveils a $5 billion fund, granting 5,000 free citizenships to Bitcoin supporters, while facing scrutiny from the IMF over its crypto policies.

In a groundbreaking move, El Salvador President Nayib Bukele has announced a bold initiative to offer 5,000 free passports to individuals with expertise in various fields. These include scientists, engineers, doctors, artists, and philosophers, aiming to attract talent to contribute to the country development.

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Bukele emphasized the potential for newcomers to shape El Salvador future and highlighted the perks, such as voting rights and tax exemptions for families. This initiative comes amidst the country increasing embrace of Bitcoin, with recent investments totaling $84 million and the establishment of a physical vault for storing BTC.

Despite the positive reception from crypto enthusiasts and initiatives like the Volcano Energy program, El Salvador faces opposition from the International Monetary Fund (IMF) due to its Bitcoin adoption, complicating its efforts to secure a significant loan.

Nevertheless, El Salvador proactive approach underscores its commitment to Bitcoin global integration and technological advancement.

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