Original archived Re: What if a major government suddenly declared Bitcoin as its official currency ?
Scraped on 23/08/2025, 21:47:36 UTC
What if a major government suddenly declared Bitcoin as its official currency ?
Bitcoin is currently revolving around $110k to $115k in the past few days now, after falling slightly from $124k early this month. And as such, having another nation declaring Bitcoin as it's legal tender will literally cause a positive spark in it's price movement. But I literally don't think that will be much, compared to if that same nation could also establish a Bitcoin reserve, to buy and hold a large sum of Bitcoin, while declaring it as legal tender. Because just as El Salvador did in the past by been the first nation to declare Bitcoin as legal tender, which brought in lots of attention to Bitcoin. If any new nation does same thing with a positive impact on the value and market by buying a large sum, Bitcoin will remain stagnant in price.