Nayib Bukele confirmed that his country is willing to invite 5,000 foreigners to the country to obtain free citizenship with additional incentives.

El Salvador is a Bitcoin bullish country. Under the presidency of Nayib Bukele, this country adopted Bitcoin as a currency in September 2021. Currently, this country holds more than 2,849 BTC.

To increase Bitcoin holdings, this country purchases 1 Bitcoin per day using government funds and also motivates citizens to invest in Bitcoin through Bitcoin bonds, issued by the government of El Salvador.

In late 2023, the government of El Salvador also began offering foreigners to donate one million US dollars in Bitcoin to obtain El Salvador citizenship.

Many Bitcoiners showed a significant inclination towards this country due to the zero tax policy for Bitcoin holders. This year, the government of El Salvador proposed the idea of ​​reducing the enormous amount of taxes that companies pay.

On April 7, 2024, the president of El Salvador, Nayib Bukele, announced that they will offer 5,000 people free citizenship in the country and that the government will also impose zero taxes for the property relocation procedure.

With this free citizenship program, El Salvador intended to attract highly trained scientists, engineers, doctors, artists, and philosophers from abroad to the country.

Bukele confirmed that some additional information will officially be shared with people who are willing to move to the country.

This is a very big step by the government of El Salvador because it will not only increase the amount of talent in the country but will also attract high-level companies to the country. All these efforts will help boost the country's economy further.

It is worth noting that the pumping in the economy of this country will significantly affect the trading price of Bitcoin, as this is the country that supports Bitcoin the most and further growth of this country will act as a catalyst factor for Bitcoin.

Between 2021 and 2023, El Salvador experienced an influx of large numbers of tourists to the country. Many people visited Bitcoin Beach, a popular coastal town where all small and large businesses accept Bitcoin payments called El Zonte in El Salvador