Huge news indeed for the fact that Philippines is joining Pakistan and Indonesia create a Bitcoin reserve. Those developments they made is good step that Bitcoin Strategic reserve creation is moving forward in Asia.
I've heard before that Malaysia,Hongkong and China(despite of banning) plan to create a Bitcoin Strategic reserve. But they didn't have any formal announcement or plan to do it for now.
We are currently experiencing relative calm with regard to the price, but there will come a time in the not-too-distant future when the current price will seem like a bargain. Apart from major players such as MSTR, who are already buying, and a host of small companies that are starting to do so, as soon as states really start buying, and the most logical thing is for them to do so with DCA, there will be a shock in demand that supply will not be able to meet, and that can only be solved with large price increases.
This time will definitely come to pass and those that are waiting for Bitcoin to dip more before they buy will be so unfortunate that the price they are seeing today won't be seen at all, you can just imagine the price of Bitcoin as of 2020-2021 and what we are seeing now. The possibility that Bitcoin will dip to the price it was as of 2020 is very small (rare) if at all that can happen even though BTC is a volatile asset. But anyone who is interested and determined can still buy in the future regardless by using the most convenient strategy ( DCA method) because since they are not buying a whole ( 1 BTC) they can accumulate but it is good to start now so that before that time we will be at overaccumulation stage or almost there.