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.
Yes that is true but it will not happen all at the same time. Like not all countries will suddenly add bitcoin to their reserve all at the same time so if bitcoin pumps because of a government adding bitcoin to their reserve it will be random times not just one time. Though it will be fun to imagine if all countries did decide to buy bitcoin all at once, the price will definitely increase incredibly high. Instead we will only see bitcoin pump in different times. It will also depend what country is making this move. Trump talking about bitcoin made it a lot more popular and in demand than El Salvador completely backing it up. Needless to say while it is a good thing, El Salvador is not exactly a country that other countries look to so the impact is not that massive.