What I think is that if bitcoin continue to remain a deflationary coin and if the price continue to rise, more countries will make it to be part of their reserves. I think it will compete with gold and probably later compete with dollar. Just that time is important, people needs to be patient as this may take years or decades.
From the much I’ve had to read on this, most of the nations that are buying into the idea of Bitcoin for a reserve currency, they take the initiative out of the fact that, its price continues to rise and wants to use it for a means to take profit and cut in on national debt if that sounds about right. Well, that doesn’t say much on how they value or try to improve the development of Bitcoin. It doesn’t feel so good with me but, we could bite for now.
Bitcoin already is competing with gold but, we wouldn’t find these nations not having their foot in what is backed or within their centralized systems.