What I am waiting for is the moment when the first of these reserves, whether federal or state, announces that it has bought bitcoin.


Depends. Price movements on the news are completely irrational, so we can't conclude anything from it. Rather than expecting the price to move because of the news, I expect the price to move because of a simple question of supply and demand. We are below the S-curve but starting to rise, when the real rise comes, the same whiners who are crying now because the price is not rising will come and say that the price has risen too much because the institutions and the states are hoarding everything and that it is unfair.