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 visa's are not about proof of wealth, these visa's are about having funds available on hand(easy access) to cover your visit so that you are not deemed as someone entering the country looking for work..
its also about avoiding someone coming to the country to then become a economic asylum seeker.
its also about avoiding someone coming in with funds obtained from criminal enterprises
in short, if someone cant afford to have legally sourced fiat on hand to take the trip, then how are they going to fund themselves during their stay
(you actually need money to spend on food and hotel so obviously you need to cash out some coin to pay for your visit)