As you said it is a good reserve and has been and I think that many countries are still holding on to their gold reserves. Buying bitcoin does not mean they will be totally replacing gold. Maybe they are just focusing on increasing their bitcoin reserve since they probably already have more of gold. Bitcoin seems to be a lot more volatile than gold which is riskier but also serves more opportunities for bigger profit so that might be why they are focusing on bitcoin more. But if you have enough funds, why not invest in both?
That's a fact that happened because even though many countries have considered the adoption of Bitcoin as a strategic step, it does not mean they are throwing gold.
Bitcoin is quite speculative compared to gold, but in terms of durability is not much different and we can see when a recession occurs and Bitcoin is still standing so strong.
This is talking about the state and I don't think it's funds that are a problem, but rather how the approach can be done based on the right study.
See how the country has done it and may be a reference for other countries because gold and Bitcoin are a hedge despite different speculative speaking.