There's a new market that's developing and growing, with wealthy or semi-wealthy people country-shopping to add more passports to their portfolio.

It's a thing, people do that all the time. And there are a lot of countries where you can simply 'buy' a passport.

A six-figure investment is usually required, and you get it right away.

In some cases, buying a five-figure property is enough, but the process takes a lot longer.

El Salvador just launched its own new citizenship by investment programme and to be quite frank, it isn't a competitive product.

I'm going to give you the headline first, if you want to become an El Salvador citizen, you have to commit $1 million worth of BTC or USDT.

$1 million is a lot, definitely not a good proposition in the current market.

You can even get a Maltese passport for a lot less than that. And a Malta (ie, EU) passport is arguably better than an El Salvador one.

And even looking at the Caribbean, there are a lot of neighbouring countries that provide more value when compared to El Salvador.

So, dear Salvador, we love you for embracing crypto, but $1 million for a citizenship programme? Perhaps you're punching above your weight.