Remember The ‘Passports For Bitcoin’ Initiative In El Salvador? It’s Not Going So Well

A new inquiry into public records has unveiled shortcomings in El Salvador’s “Freedom Passport” initiative, a program launched in December 2023 to attract high-net-worth Bitcoin (CRYPTO: BTC) investors by offering residency visas in exchange for significant investments.

What Happened: According to Diario El Mundo, the General Directorate of Migration and Immigration (DGME) has yet to issue any Freedom Passports, despite government goals of attracting 1,000 participants annually.

The program was designed to grant residency and citizenship rights to those willing to maintain at least $1 million in Bitcoin within their investment portfolio, aligning with El Salvador’s broader agenda of integrating Bitcoin into its financial system.

However, the DGME

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