El Salvador expects to sell out of Bitcoin 'freedom visa' before year-end

Salvadoran National Bitcoin Office (ONBTC) stated that since its launch on December 7th, its $1 million free visa program has received hundreds of inquiries and is expected to be sold out by the end of this year. The office has received hundreds of inquiries and "dozens of applications", including online and in-person applications submitted to its embassies and consulates.

An ONBTC spokesperson stated that the total number of quotas for this program is limited to 1,000 per calendar year.

However, market commentators such as Alistair Milne, Chief Information Officer of Altana Digital Currency, have said that El Salvador's million-dollar visa program is "not competitive" compared to visa programs offered by countries such as Malta, which offer full European citizenship for $810,000.

As previously reported by Golden Finance, El Salvador launched an "investment citizenship" program, where investing $1 million in BTC or USDT can grant citizenship.