Are Governments Secretly Stocking Up Bitcoins? Know Here
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According to the latest video from Altcoin Daily, there is a great financial digital asset war going on right now between nation-states. They are all trying to accumulate as many digital assets and digital infrastructure as they can.
The US government is shuffling around and moving its Bitcoin holdings. The US government is currently the largest geo-political holder of Bitcoin with over 200,000 Bitcoins under the control of the US. however, many Middle Eastern countries are also eyeing to be greater than the US in Bitcoin reserves.
But, Is the US planning to sell the Bitcoin reserves?
Notably, the pro-crypto Presidential candidate, Donald Trump in the recent Bitcoin conference had stated that if elected, he would make sure that under his administration, the US will keep all the 100% of its Bitcoin reserves it currently holds or acquires in the future.
The US government had roughy shifted 10,000 BTC to a wallet address on August 14th. This was the latest high-profile transfer of the US government’s Bitcoin holdings. Currently, it holds roughly around 203,000 BTC valued at $12 Billion as of writing. Apart from Bitcoin, it also holds over 50,000 ETH valued at approximately $134 million. However, it is not known whether the government is self-custodying the Bitcoin, selling it, or trying to generate yield on it.
Norway Making Big Moves!
Norway is making movies when it comes to Bitcoin. The Central Bank of Norway owns over 1.1 million shares of MicroStrategy, which is basically like buying Bitcoin ETF. Moreover, Norway’s Sovereign Wealth Fund Boosted its Bitcoin holding to 2,446 BTC amidst growing investment trends. Norway is taking greater stakes in companies like Microstrategy, Marathon Digital, Coinbase, and Block, reflecting Bitcoin’s growing significance in diversified investment portfolios.
The expansion of Bitcoin holdings by the Norwegian central bank signifies Bitcoins’s growing acceptance and prominence in the financial ecosystem.
Russia’s Efforts In Crypto
Russian President Vladimir Putin has signed a new law advancing crypto mining regulations, which marks a significant step in Russia’s efforts to capitalize on the digital asset economy.
President Putin also recently stressed the need to promptly create a legal framework and regulation for cryptocurrencies, develop infrastructure, and establish conditions for the circulation of digital assets.
El Salvador To Build ‘A Bitcoin City’
El Salvador, the Bitcoin country is building a Bitcoin city. It is getting a massive infrastructure investment that is expected to support the buildout of its visionary ‘Bitcoin City’. The government stated that Yilort, a Turkish holding company will invest $1.62 billion in two of El Salvador’s seaports, which marks the country’s largest private investment in the country’s history.
The country currently holds 5,840.76 BTC, worth around $345 million. It continues to add 1 BTC to its holdings every day.
There are very prominent rich countries in the Middle East, that are getting into Bitcoin and crypto in a big way. Therefore these countries may soon announce by the end of the year revealing that they hold a lot of Bitcoin and how bullish they are.
