This is a positive development for the crypto space, even though the market remains highly unpredictable. It might just be a matter of time before we start seeing some big moves.
Yes, this is a positive development that also came with much sacrifice and disadvantage.
If the government started holding Bitcoin and some altcoin as their reserve, it builds the reputation of crypto in the society, where they only have negative understanding about crypto, and we will see Bitcoin being used as the mainstream of payment (particularly border-to border). However, there's going to be a huge sacrifice in the aspect of privacy, and there's going to be a huge disadvantage in the area of market manipulation, which is what we are already seeing in the market as we speak. Besides, there's more to come and I hope we're ready for it.