A friend wants to visit a country and they were enquiring for proof of funds for him to be issued a Visa. This young man has invested heavily in Bitcoin and other cryptocurrencies that he might not be able to present the minimum amount they want in his fiat account. But he can present ten times more than the amount the embassy is asking if they want it in cryptocurrency.
The embassy is insisting that although Bitcoin is legal in the country, they cannot accept it as proof of funds. The guy is a little bit frustrated because he is been forced to sell his coin prematurely in other to present the amount they are requesting. The visit is for an important business where he needs to test run and evaluate some equipment he wants to acquire. Taking a loan might not be appropriate since the embassy wants to see the flow of cash and not just a lump sum.
I suspect that countries like El Salvador might accept Bitcoin for such proof. How is the situation in your own country? My country will not accept Bitcoin because the government is anti-crypto.
one of the reason why we hold bitcoin some time for for such emergency and one good thing with bitcoin is that it always give you the opportunity to buy back at even a probably cheaper price, so instead of the dude to be sad about the whole thing he has taken the decision to liquate his asset to cover up for his traveling demand, most of the countries around the world probably prefer visitors prove of funds to be in local currency, some go as far as checking the banking history of the applicant.
if you want a country where your bitcoin asset can be used as a prove of funds, you should be looking at countries like El Salvador whose law allowed for automatic citizen to visitors who have certain amount of bitcoin in they wallet.