Bitcoin Gold Card in the US? Crypto Insider Floats Proposal

David Bailey, CEO of BTC Inc. and one of the attendees of the Trump Administration’s crypto summit, stated that there should be a path for paying for the proposed “gold card” with bitcoin. This would allow the country to add to its recently formed strategic Bitcoin reserve without using taxpayers’ funds.

Bitcoin for a Gold Card? An Indirect Crypto Residency Proposal

The official enactment of a strategic bitcoin reserve (SBR) in the U.S., and the intention of growing it by the Trump administration, has opened a plethora of possibilities to achieve this goal without involving taxpayers’ money.

Read more: US Bitcoin Reserve and Crypto Stockpile—White House Breaks Down Trump’s Executive Order

David Bailey, CEO of BTC Inc., and one of the dozens of insiders invited to the recent Trump crypto summit, has combined two of the president’s ideas to grow the reserve without spending a cent.

Bailey commented that the “gold card” initiative floated by Trump, which would allow wealthy individuals from all over the world to purchase its entrance and permanence in the U.S., could be paid in bitcoin.

On social media, Bailey stated:

Many elites in emerging markets want to live in the U.S. but struggle to move $5M in USD out of their home countries. Bitcoin offers a simpler, safer, and more discreet solution.

Trump floated the gold card initiative back on February 25, saying that it would be a paid green card alternative that would open a path to citizenship for wealthy individuals wanting to move to the U.S.

“We’re going to be putting a price on that card of about $5 million and that’s going to give you green card privileges. And wealthy people will be coming into our country by buying this card,” Trump stressed.

He also hinted that the Russian oligarchs might be able to purchase this card: “I know some Russian oligarchs that are very nice people,” Trump noted.

The measure, if taken, should give the world another clear sign that the U.S. is serious about including bitcoin as part of its internal policies. This has been put in doubt by some analysts even with the slew of pro-crypto measures that the current administration has directly executed or indirectly influenced since its inauguration.