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.
These countries that require a visa are looking for their applicant's cash flow so that they won't have just received some who might be illegal immigrants.
Assets like Bitcoin won't give them the guarantee that the applicant has a source of income just like owning tons of other assets. It should be plain and recorded through bank statements and that's why they're asking about it.
Also, they consider someone good if they pay taxes because while holding Bitcoin, we're not yet obliged to pay taxes unless we sell them. I think that those receipts or records of capital gains would do the job if allowed.