Nations can make it up to the list of whales but they can’t outnumber the already existing ones who have started accumulating and mining bitcoin right from the early days, government have the resource to make things work and make their citizens to also join the queue but their is limit to the extent that they can go make things work.
The market is unpredictable, and the people we are speaking about have the smartest people on the planet on their palm. who have the ability to invent a way to control the entire market or scare the existing whales into dumping some of their bags so they can amass. Don't be so certain that they can't outnumber the current whales in the market; the example what we're seeing now in the market. The most crucial thing right now is that each Bitcoin user keeps their BTC in a safe self-custodial wallet instead of exchange.
If the market can easily be manipulated and controlled by invention from government and its agencies don’t you think that it could have been done long ago before now? I don’t doubt you saying the smartest people can invent a great thing but for the purpose you point at I don’t agree with that, some whales don’t get move no matter the pressure on the market, the government will always have Bitcoin to buy from small and short time holders.