Bitcoin Magazine CEO David Bailey, who is known to be close to Donald Trump, has made a proposal to fund the Trump administration’s “Golden Card” program using Bitcoin.
The initiative, which is designed to grant U.S. residency to wealthy individuals, requires the payment of approximately $5 million, or an equivalent amount in Bitcoin.
Bailey noted that many wealthy people from emerging markets aspire to relocate to the U.S., but they often face difficulties in transferring large amounts of money through traditional financial channels. He argued that Bitcoin could offer a more efficient, secure, and private alternative for these transactions.
Bailey said in a statement on social media:
“President Trump should accept Bitcoin paid into his strategic BTC reserve in exchange for his ‘Golden Card’. Many elites in emerging markets want to live in the U.S. but are struggling to get $5 million out of their home country. Bitcoin offers a simpler, safer, and more private solution.”
Bailey also stated that enabling BTC payments for the program could serve as a major incentive for the global Bitcoin community to support the initiative. Bailey suggested that such a move would mobilize “hundreds of millions of Bitcoin holders around the world” to become advocates for the Trump administration’s residency program.
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