They’re not the first government & they won’t be the last to make such a monumental error as selling their Bitcoin. These governments are financially illiterate & don’t appreciate now valuable a finite supply asset is. Why would they sell Bitcoin for something they can & do recklessly print, it’s stupid but I am not surprised.
Yeah some government and companies are always making this mistakes and they always end up regretting especially when Bitcoin hit a shocking price, there's no need for a nation to quickly sell there Bitcoin, I'm sure they are rich and the money they used to invest in Bitcoin is not something they need for anything in the moment so there's no use to sell at this early stage, they have a lot of source of income why not take from there and run what ever they want to run, they really don't understand what having or investing on long term investment is all about.
You talked about printing money recklessly the government can't just print money recklessly if they do it will lead them to inflation and the public will lose trust in there currency there by making there currency lose value in the world market, so money can't be print recklessly.
If they needed money for a project they have other way or source of income which I'm very sure can help them get or raise the money they wanted.
All I see here is lack of trust and poor thinking.