On Thursday, the govt of El Salvador, along with the stablecoin organization Tether, declared a joint initiative named “Adopting El Salvador Freedom” that will allow foreigners to receive a Salvadoran passport in trade for shelling out $1 million in Bitcoin.
In 2021, El Salvador grew to become the 1st place to undertake Bitcoin as legal tender, mandating that firms take the leading cryptocurrency as a variety of payment and rolling out a digital wallet known as “Chivo,” incentivizing citizens to partake with a $30 indication-up reward in Bitcoin.
The enterprise proved controversial, with Salvadorans protesting the move—alongside President Nayib Bukele’s