Bitcoin has grown from being ‘internet money’ used by only a few thousand people during its first few years to being part of the balance sheets of big companies and sovereign states. El Salvador is a case in point for a country that has committed fully to the bitcoin mission, putting millions of dollars into the digital asset as a national reserve. While bitcoin is still a long way from being the de facto reserve currency of all countries, its growth points to countries not being able to ignore it for much longer. That’s why it is expected that more nation-states will purchase the cryptocurrency in the next year. Fidelity On Why Countries Will Purchase Bitcoin In a recent report published by Fidelity, it goes into depth about bitcoin and the role it may play in deciding which countries are the economic leaders of the world. This is because as the asset becomes more widely spread as a reserve currency, the countries who hold bitcoin may see their influence grow higher than those who do not, despite where they might stand today. Related Reading | Jack Dorsey Launches Bitcoin Defense Fund To Aid Devs Facing Litigation History has always shown that those who are quick to accept innovation and new technology have always ended up faring better compared to those who do not, and that may well be the case with bitcoin and other cryptocurrencies. Fidelity also refers to it as a “very high stakes game theory.” If bitcoin adoption co...
