Hello everyone. I hope you're all doing well. I believe all of you are aware of the latest developments in the crypto market. And that the liquidation has caused quite a downturn and many have incurred losses. Hive itself has lost quite some value. Not even a month ago. It was being traded at More than twice the price. It is at the moment of me writing this. But there has been some rebound and most of the market is showing some level of return from the lows of late January. But that is not the subject that I want to talk about today. I want to talk about the situation of Bitcoin accumulation on a national level. And what it could mean for the coin, price wise.
So basically most countries around the world didn't ever think of Bitcoin being used as a strategic reserve. The main argument for the points was Bitcoin is an imaginary currency and it doesn't even exist in the real world. That's about it. The truth is most politicians around the globe do not understand what Bitcoin is. Bitcoin is the digital equivalence of gold. The sooner they realize this the better it may be for them. Because the race for Bitcoin accumulation has all but begun. El Salvador and Bhutan were holding Bitcoin from a while back. And they have profited significantly in the event of Donald Trump's win as Bitcoin rallied significantly since then. But since they are not some big powerful country, this has been overlooked. But now that Trump is endorsing the cryptocurrency and that he wants America to hold all the crypto that it has accumulated from probes and confiscations, it sends a clear message that the nation is serious about crypto. And the “strategic Bitcoin reserve” act also indicates that way. So my thoughts are that whichever country is trying to buy Bitcoin for their reserve, because obviously everyone would want to follow America in an economic standpoint, they will try to buy Bitcoin silently. Because if it gets out, then the whole accumulation thing picks up a lot of speed and high-speed buying will shoot up the price. And no one benefits from this accumulation.
So if you see news around you of Bitcoin being used as a reserve currency, they mean it for sure. But you won't see them buying it. But if the word actually gets out, it'll be fun for normal traders like us who hold Bitcoin, because the price will just skyrocket.
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