Question with ssi in terms of bitcoin.
I am trying to get ssi for my disability. But I have some storage of various coins, bitcoin, ethereum, litecoin, etc.
I am wondering, do I sell all my coins, in order to be poor enough to get ssi? Or its not needed to sell? Because even though I am not making money on coins now (and only losing money on the coin) I'd hate to miss being a millionaire, 2 years in the future, but I lost out because I sold all my coins. But right now, my coins are giving literally no income, thus I need ssi.
I have a close friend on SSI. Over the years, she's had a couple large inflows of cash. During those times when she had assets, she was no longer eligible to receive benefits. She had to dispose of them, or lose the benefits:
SSI Asset Limit
A resource is money as well as something that you own and can turn into cash. Examples of resources are property, stocks, bonds, and bank accounts.
Supplemental Security Income (SSI) is a needs-based program. To get SSI, your countable resources must not be worth more than $2,000 for an individual or $3,000 for a couple. We call this the resource limit. Countable resources are the things you own that count toward the resource limit.
SSI Spotlight on Resources - Social Security
https://www.ssa.gov/ssi/spotlights/spot-resources.htmNow, whether the SSA would ever be able to figure out you own cryptocurrency without you telling them -- that's another story...