El Salvador plans to offer citizenship to foreign investors as part of legal reforms by President Nayib Bukele aimed at strengthening the economy.
Bukele announced in a tweet, which received 42,000 likes, that he would forward 52 legal reforms to congress despite criticism that his policies could destabilize the country.
The President made a similar promise last year to investors in a proposed bitcoin fund after recognizing BTC as a legal tender.
El Salvador will join countries like Malta and Turkey offering similar privileges to international capitalists if the plan sails through. The policy provides a minimum investment to warrant the offering.
The Central American nation now holds 1,801 bitcoins estimated at $69 million after adding an amount worth about $15 last month.
The US Senate Committee on Foreign Relations brought forward a bill recently requesting the State Department to investigate El Salvador’s adoption of BTC as a legal tender.
Source: Forbes