I was wondering if the general tendency of both corporations and public institutions (e.g. governments, Central Banks) to set up Bitcoin "strategic reserves" could influence the sentiment in the next bear market. But not because of the increased liquidity or demand, but their influence on the general "sentiment" or "public opinion" on Bitcoin.

Historically, in each bear market we witnessed a lot of voices, from journalism, influencers on Twitter/X and other social media, that claimed that Bitcoin had reached "its end" and "was about to die". This is often accompanies by claims that Bitcoin "was a bubble".

However, it seems that in this cycle, as Bitcoin is being embraced by corporations and even some governments, we may have reached a tipping point where not only die-hard Bitcoiners but also the general people could cease to believe these obituaries.

If your government has a strategic Bitcoin reserve, could it then simply "die"?

An interesting example for this shift are the European Central Bank employees Bindseil and Schaaf, In 2022, after the FTX desaster, they published an article (Bitcoin's Last Stand) claiming even at $20,000 it was a good time to sell because it was the last dead cat bounce before dying completely. Fast forward to 2024/25, and they published an article about the dangers of Bitcoin becoming too succesful.

I'm still skeptical about massive Bitcoin reserves for governments but the influence on the "Bitcoin is dead?" narrative could indeed help to change the sentiment in the next bear market, and make it plummet less because less people could fear to lose everything when Bitcoin "dies".

Thus: Is Bitcoin now "too big to die"? Could this accelerate the volatility reduction we're already witnessing, and finally pave the road to make it a more stable and "solid" asset, and a true gold competitor?