El Salvador President Nayib Bukele Offers Citizenship To Bitcoin Investors

JAKARTA – The country that adopts Bitcoin as an official medium of exchange, El Salvador is rumored to be giving citizenship to the crypto community who want to invest there. This was conveyed by the President of El Salvador Nayib Bukele through his Twitter tweet.

Bukele made the announcement to invite the crypto community by stating that he had submitted a list of 52 legal reforms to congress. In the proposed proposal, Bukele called for abolishing bureaucracy, reducing bureaucracy, creating tax incentives, and offering citizenship to foreigners.

The president promised to make El Salvador one of the most freedom-centered countries at a time when the world was falling into “Tyranny.” Bukele has made El Salvador the first country to adopt Bitcoin.

Recently, a group of senators in the United States introduced a new law, seeking to reduce the risks posed by the adoption of BTC as a legal tender as El Salvador did.

President Bukele criticized the new law and called US senators “boomers” while reminding them that they have no jurisdiction in the sovereign and independent nation.

El Salvador mines Bitcoin using the thermal power of a volcano. The mining results are used to build schools and hospitals.

Nayib Bukele also plans to establish the world's first Bitcoin city. In September 2021, El Salvador has been in the world spotlight for deciding to make Bitcoin the country's official medium of exchange.

However, the government emphasized that people can still use US dollars as a medium of exchange while Bitcoin is a payment option. El Salvador is reported to have achieved gross domestic product growth of more than 10 percent, the highest achievement in El Salvador's history.