Recent reports suggest that many countries are actively considering holding Bitcoin as a reserve asset. If more nations pass legislation to officially own BTC reserves similar to El Salvador, we could see a significant surge in demand driven by government accumulation.
Just imagine if a majority of countries adopt this approach. The impact on Bitcoin’s demand and value could be enormous.
I’d love to hear your thoughts
None of these countries have been bold enough to take the first step. It looks like most of them are waiting for the US to make the first move. If Donald Trump starts implementing his promise to make Bitcoin a reserve currency, maybe more nations will join immediately. For now, what we have been hearing is news showing nations' interest in making Bitcoin a reserve currency, but none have been backed with actions.
Exactly, no country has made the leap yet. Thing is though for all the countries
which could add Bitcoin to their treasuries for them there are elements of Bitcoin
which they are not 100% comfortable with, the biggest being the decentralised factor.
They also cannot see past the volatility of the market either.
No doubt that the OP is right, if/when countries make the move it will certainly
affect the supply v demand.