Some governments (like El Salvador and Russia) are moving into bitcoin mining. If more nation-states accumulate BTC, what impact will this have on decentralization and price stability? Could this lead to geopolitical bitcoin wars?
You missed Bhutan! Bhutan was probably the first ever nation to monetize their abundant hydro power using Bitcoin mining. They already hold close to 14000 bitcoins.
If governments keep on investing in Bitcoin mining, I don't see a price stability happening. That's the inherent structure of Bitcoin. The volatility is something that keeps the investors and traders in the market. However, there's a definite risk on decentralization. Right now, if you would like to purchase Bitcoin legally, first thing you need to do is KYC. The chances of getting Bitcoin anonymously is getting slimmer day by day. I foresee that, it will only be increasing and enforcement agencies will close down any places where anonymous Bitcoin transactions are happening.
Not sure about the geopolitical Bitcoin wars, but commoners like you and I, will have no place to stay anonymous.