Now, as the Federal Reserve and China feed into a "perfect storm" for the bitcoin price, rumors are swirling that a country has been quietly buying up bitcoin.
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Nov 10, 11:59:58 AM UTC · Disclaimer
‘Huge Things Coming’—Bitcoin Suddenly Explodes As Secret ‘Nation-State’ Adoption Mystery Rumors Fuel A Crypto Price Boom
Bitcoin has surged to a fresh all-time high in the days after Donald Trump's U.S. election victory, ... [+]
"There is at least one nation state that has been actively acquiring bitcoin and is now a top five holder," David Bailey, the chief executive of Bitcoin Magazine publisher Bitcoin Inc and advisor to the Trump election campaign on bitcoin strategy, posted to X.
"Hopefully we will hear from them soon."
Rumors and speculation that countries are buying up bitcoin have been swirling for years, fueled by El Salvador's adoption of bitcoin as legal tender and experiments in the Himalayan Kingdom of Bhutan with bitcoin mining.
- Earlier this year, wild speculation swept social media that Qatar had bought hundreds of billions of dollars worth of bitcoin.
Donald Trump's promise during a July bitcoin conference in Nashville, Tennessee—organized by Bailey—to make the U.S. the "crypto capital of the planet" and create a bitcoin strategic reserve further stoked sky-high expectations.
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| Taken from Digital Innovation for America |
U.S. senator Cynthia Lummis (R-Wyo.) introduced The Bitcoin Act to Congress in July, calling for the creation of a strategic bitcoin reserve to reduce the U.S.'s spiraling, near-$36 trillion national debt by buying 1 million bitcoin over five years.
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