A Major Central Bank About to Buy Bitcoin?
Such an action could trigger a massive wave of Bitcoin adoption among the world's major central banks, if Game Theory is anything to go by.
In September 2021, President Nayib Bukele's El Salvador became the first country to adopt a Bitcoin standard. Despite the Bear Market of the following year, El Salvador clung to this standard Bitcoin despite pressure from major financial institutions and some of the world's great powers.
Nayib Bukele knows that Bitcoin represents a unique opportunity to change his country's future. Of course, El Salvador is still a long way from reaching the end of the road, but progress is already enormous. Everyone who has been to El Salvador agrees that what President Nayib Bukele is doing for his country is unique in Central America.
For the time being, other countries that might be expected to follow in Nayib Bukele's footsteps are still reluctant to take the plunge. Nevertheless, it's a safe bet that another nation will follow El Salvador's example within the next 2 years. The upcoming Bull Market will help them take the plunge!
If the adoption of Bitcoin by Nations has begun, we could see another powerful trend in the months and years to come. This trend would be just as powerful: to see central banks buying Bitcoin to use it as a store of value. Bitcoin is a store of value more reliable than weak money like the euro or the dollar. An ideal complement to gold in a world where everything is becoming digital, and then an ideal replacement to gold …
For this to have any weight, the central bank interested in such an initiative would need to be recognized worldwide. This is exactly what could happen in the coming months, as I will explain below.
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