David Bailey Advocates Bitcoin for Trump’s Gold Card Initiative

David Bailey, CEO of BTC Inc. and attendee of the Trump Administration’s crypto summit, stated there should be a way to pay for the proposed “gold card” with bitcoin. This approach could enhance the country’s newly formed strategic Bitcoin reserve without utilizing taxpayers’ funds.

Bitcoin for a Gold Card? An Indirect Crypto Residency Proposal

The establishment of a strategic bitcoin reserve (SBR) in the U.S. and the Trump administration’s plan to expand it presents opportunities to achieve this without taxpayer involvement.

David Bailey, attending the Trump crypto summit, merged two presidential initiatives to increase the reserve at no cost. He proposed that individuals could purchase the “gold card” – an initiative announced by Trump that enables affluent individuals to buy residency in the U.S. – using bitcoin.

On social media, Bailey remarked:

> 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 first suggested the gold card initiative on February 25, envisioning it as a paid alternative to a green card, granting citizenship pathways for wealthy individuals aiming to relocate 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. Wealthy people will be coming into our country by buying this card,” Trump emphasized. He even noted the possibility of Russian oligarchs purchasing it, stating, “I know some Russian oligarchs that are very nice people.”

If implemented, this measure would signal the U.S.’s commitment to integrating bitcoin into its policies, a topic of debate among analysts despite various pro-crypto measures enacted by the current administration.