* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Tuesday, August 26, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    ‘The Roses’ review: Olivia Colman, Benedict Cumberbatch sparkle in dark comedy – Yakima Herald-Republic

    The Roses’ Review: Olivia Colman and Benedict Cumberbatch Shine in Dark Comedy Delight

    ‘When Calls the Heart’ Fans All Want the Same Thing After Seeing the Show’s Latest Update – yahoo.com

    When Calls the Heart’ Fans Rally Together in Excitement Over Exciting New Update!

    Quotes of the Week: Peacemaker, Project Runway, Countdown and More – yahoo.com

    This Week’s Most Memorable Quotes from Peacemaker, Project Runway, Countdown, and More!

    Drake Appears in Teaser for Bobbi Althoff’s New Podcast ‘Not This Again’ – yahoo.com

    Drake Drops a Surprise Cameo in Bobbi Althoff’s Thrilling New Podcast Teaser ‘Not This Again

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    How to watch ‘F1: The Movie’ on Prime Video – About Amazon

    Experience the Thrill: How to Stream ‘F1: The Movie’ on Prime Video

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    The Role of AI and Technology in Shaping the Future of Interactive Entertainment – Technology Org

    How AI and Technology Are Transforming the Future of Interactive Entertainment

    Ten upcoming sports stadiums where technology takes to the field – Dezeen

    10 Futuristic Sports Stadiums Revolutionizing the Game with Cutting-Edge Technology

    Figure Technology Solutions, Inc. Files Registration Statement for Proposed Initial Public Offering – Business Wire

    Figure Technology Solutions, Inc. Unveils Exciting Plans for Its Upcoming Initial Public Offering

    UNLV Responds to Workforce Need with Microcredential in Nuclear Technology – University of Nevada, Las Vegas | UNLV

    UNLV Unveils Cutting-Edge Microcredential Program to Fuel Growth in Nuclear Technology

    Why Technology Will Never Take Over Completely – Patheos

    Why Technology Will Never Completely Control Our Lives

    Alcorn State awarded grant to boost STEM with VR technology – WJTV

    Alcorn State Secures Grant to Transform STEM Education Through Cutting-Edge VR Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    ‘The Roses’ review: Olivia Colman, Benedict Cumberbatch sparkle in dark comedy – Yakima Herald-Republic

    The Roses’ Review: Olivia Colman and Benedict Cumberbatch Shine in Dark Comedy Delight

    ‘When Calls the Heart’ Fans All Want the Same Thing After Seeing the Show’s Latest Update – yahoo.com

    When Calls the Heart’ Fans Rally Together in Excitement Over Exciting New Update!

    Quotes of the Week: Peacemaker, Project Runway, Countdown and More – yahoo.com

    This Week’s Most Memorable Quotes from Peacemaker, Project Runway, Countdown, and More!

    Drake Appears in Teaser for Bobbi Althoff’s New Podcast ‘Not This Again’ – yahoo.com

    Drake Drops a Surprise Cameo in Bobbi Althoff’s Thrilling New Podcast Teaser ‘Not This Again

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    How to watch ‘F1: The Movie’ on Prime Video – About Amazon

    Experience the Thrill: How to Stream ‘F1: The Movie’ on Prime Video

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    The Role of AI and Technology in Shaping the Future of Interactive Entertainment – Technology Org

    How AI and Technology Are Transforming the Future of Interactive Entertainment

    Ten upcoming sports stadiums where technology takes to the field – Dezeen

    10 Futuristic Sports Stadiums Revolutionizing the Game with Cutting-Edge Technology

    Figure Technology Solutions, Inc. Files Registration Statement for Proposed Initial Public Offering – Business Wire

    Figure Technology Solutions, Inc. Unveils Exciting Plans for Its Upcoming Initial Public Offering

    UNLV Responds to Workforce Need with Microcredential in Nuclear Technology – University of Nevada, Las Vegas | UNLV

    UNLV Unveils Cutting-Edge Microcredential Program to Fuel Growth in Nuclear Technology

    Why Technology Will Never Take Over Completely – Patheos

    Why Technology Will Never Completely Control Our Lives

    Alcorn State awarded grant to boost STEM with VR technology – WJTV

    Alcorn State Secures Grant to Transform STEM Education Through Cutting-Edge VR Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

El Salvador became the first country to accept Bitcoin as legal tender. Now it’s offering citizenship for a $1 million ‘investment’

December 8, 2023
in Business
El Salvador became the first country to accept Bitcoin as legal tender. Now it’s offering citizenship for a $1 million ‘investment’
Share on FacebookShare on Twitter

On Thursday, the government of El Salvador, alongside the stablecoin company Tether, announced a joint initiative called “Adopting El Salvador Freedom” that allows foreigners to obtain a Salvadoran passport in exchange for paying $1 million in Bitcoin.

In 2021, El Salvador became the first country to adopt Bitcoin as legal tender, mandating that businesses accept the leading cryptocurrency as a form of payment and rolling out a digital wallet called “Chivo,” incentivizing citizens to partake with a $30 signup bonus in Bitcoin.

The venture proved controversial, with Salvadorans protesting the move—alongside President Nayib Bukele’s concerning autocratic shift—and adoption was slow, with the vast majority of citizens sticking with cash. Meanwhile, Bukele spending tens of millions in federal funds on Bitcoin proved disastrous, with its price plummeting from an all-time high of around $69,000 in November 2021—when Bukele announced the development of a “Bitcoin City”—to under $17,000 at the beginning of 2023.

Still, El Salvador has proved popular with Bitcoin acolytes from around the world, with the country’s tourism minister announcing in May that travelers were flocking to the country in historic numbers, driven by its commitment to crypto. That included many of the international community’s most prominent “Bitcoin maxis,” such as the influential company Swan Bitcoin, which opened a house in El Zonte, a surf town largely credited for starting the country’s Bitcoin experiment.

A steep decrease in the nation’s crime—spurred by Bukele’s contentious policy of locking up thousands of the country’s alleged gang members—has further incentivized Bitcoin supporters to flock to the country.

‘Visionary individuals’

Thursday’s announcement represents a new phase for El Salvador’s commitment to Bitcoin, buoyed by Bukele’s unverified pronouncement that his investment in Bitcoin has turned profitable, thanks to a recent price rally.

The Bukele administration has long partnered with Bitfinex, an affiliated company of Tether—the world’s leading stablecoin, or a crypto asset pegged, in this case, to the U.S. dollar—that has faced scrutiny over its lack of transparency and offshore jurisdiction. In April, Bitfinex became the first company to receive a license in El Salvador’s new crypto regulatory regime, and the government tapped the firm to help launch a long-delayed Bitcoin-backed bond.

According to a statement from Tether shared with Fortune, the new visa program enables participants to obtain a Salvadoran passport through a one-time payment of $1 million in Bitcoin, which the company is describing as an “investment,” although it is unclear where the funding will be directed. The program is seeking “visionary individuals,” including “high-net-worth investors.”

To start the process, applicants must pay a non-refundable deposit of $999 paid in Bitcoin and Ether, followed by an unspecified “know-your-customer” process. The statement includes a government link to an application page, with a banner that says “Powered by Tether.”

The program comes alongside concerns by Salvadorans that an influx of tourists, especially in coastal cities like El Zonte attracting the crypto crowd, are pushing out lower-income families. In late November, the local publication Mala Yerba reported that 25 families were facing eviction in El Zonte for the construction of a public park called “Bitcoin Beach Club de Playa.”

Subscribe to Fortune Crypto to get daily updates on the coins, companies, and people shaping the world of crypto. Sign up for the newsletter for free.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Fortune – https://fortune.com/crypto/2023/12/08/el-salvador-bitcoin-tether-nayib-bukele-investment-citizenship/

Tags: businessFirstSalvador
Previous Post

U.S. lawmakers tried banning Elf Bar and other e-cigarettes imported from China—it didn’t work, and now they’re trying again

Next Post

These are the 10 EVs eligible for instant tax rebates in the US in 2024

2025 Tahoe Co-Lab takes a deep dive into the ecology of the lake – University of Nevada, Reno

Unveiling the Hidden Wonders of Lake Ecology: A Deep Dive into the 2025 Tahoe Co-Lab

August 26, 2025
Vibe coding startup CEO says a computer science degree is no longer the ‘entry ticket’ to a career in tech – Business Insider

Tech Startup CEO Declares Computer Science Degrees Are No Longer the Gateway to Tech Careers

August 26, 2025
Scientists crack a 60-year-old quantum mystery – ScienceDaily

Scientists crack a 60-year-old quantum mystery – ScienceDaily

August 26, 2025
7 boomer habits Gen Z mocks publicly but secretly respects – VegOut

7 Boomer Habits Gen Z Publicly Mocks but Secretly Admires

August 26, 2025
Solar Power Generator Efficiency Boosted 15x by Black Metal Technology – Technology Networks

Revolutionary Black Metal Technology Supercharges Solar Power Generator Efficiency by 15 Times

August 26, 2025
What happened to college sports this summer? – The Daily Nebraskan

The Surprising Changes That Shaped College Sports This Summer

August 26, 2025

Why Your Subway System Isn’t Ready for Today’s Challenges

August 26, 2025
Considering the economic impact of the President’s law enforcement measures in DC – Federal News Network

How the President’s Law Enforcement Actions Are Shaping DC’s Economy

August 26, 2025
What Were Andy Griffith’s Last Words to Don Knotts? – Cadillac News

What Were Andy Griffith’s Final Words to Don Knotts?

August 26, 2025
Heinrich, Leger Fernández ask key U.S. health official to visit struggling Gallup Indian Medical Center – Santa Fe New Mexican

Heinrich, Leger Fernández ask key U.S. health official to visit struggling Gallup Indian Medical Center – Santa Fe New Mexican

August 26, 2025

Categories

Archives

August 2025
MTWTFSS
 123
45678910
11121314151617
18192021222324
25262728293031
« Jul    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (791)
  • Economy (810)
  • Entertainment (21,689)
  • General (16,684)
  • Health (9,851)
  • Lifestyle (824)
  • News (22,149)
  • People (811)
  • Politics (818)
  • Science (16,021)
  • Sports (21,310)
  • Technology (15,791)
  • World (792)

Recent News

2025 Tahoe Co-Lab takes a deep dive into the ecology of the lake – University of Nevada, Reno

Unveiling the Hidden Wonders of Lake Ecology: A Deep Dive into the 2025 Tahoe Co-Lab

August 26, 2025
Vibe coding startup CEO says a computer science degree is no longer the ‘entry ticket’ to a career in tech – Business Insider

Tech Startup CEO Declares Computer Science Degrees Are No Longer the Gateway to Tech Careers

August 26, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version