Nation State-Level Bitcoin Investment Could Reach Billions Monthly, Industry Expert Says

2024-11-4 05:00

Developing nations are increasingly exploring Bitcoin integration, driven by the increasing popularity and importance of the cryptocurrency to the global financial system.

On November 1, David Bailey, CEO of Bitcoin Magazine, revealed that several countries are quietly advancing towards Bitcoin adoption.

Developing Nations Prepare for Bitcoin Adoption Through State-Funded Mining Projects

Bailey highlighted this “behind-the-scenes” movement on X (formerly Twitter), where he pointed out that many developing countries are conducting energy-intensive pilot projects to adopt Bitcoin. He mentioned that these nations are funding domestic mining initiatives, transitioning from pilot projects exceeding 100 megawatts to larger efforts reaching gigawatt scales.

According to him, these pilot programs could be a stepping stone for wider Bitcoin adoption, potentially leading to the establishment of national Bitcoin reserves through central banks or sovereign wealth funds. He pointed out that discussions about stockpiling Bitcoin are gaining traction among various countries.

Read more: What Is Bitcoin? A Guide to the Original Cryptocurrency

Bitcoin Holding Countries. Source: Bitcoin Treasuries

Bailey also observed a shift in the timeline for Bitcoin’s mainstream adoption. He predicted that nation-states might soon enter the market with substantial investments, possibly reaching billions monthly.

“The Overton window has shifted so dramatically on this topic, I think we’re just months away from a nation state (or a few) entering the market in size (billions of dollars every month),” Bailey stated.

Bailey’s insights reflect the evolution of Bitcoin into a symbol of financial autonomy and one of the top-performing assets globally. Since its launch in 2009 as a decentralized electronic cash system in response to the financial crisis, Bitcoin has emerged as a viable solution to the shortcomings of traditional finance and as a hedge against currency inflation.

Read more: Crypto Regulation: What Are the Benefits and Drawbacks?

Additionally, there are increasing speculations that countries may adopt Bitcoin to help de-dollarize the global financial system and reduce reliance on the US dollar. Already, BRICS nations are exploring how the top crypto could be used as a medium for settling global trades. Moreover, some BRICS nations — Argentina, Ethiopia, and the United Arab Emirates — have already initiated Bitcoin mining operations using state resources.

The post Nation State-Level Bitcoin Investment Could Reach Billions Monthly, Industry Expert Says appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 68780.58 (-0.16%)
Объем 24H $41.744b
Изменеия 24h: -0.07 %, 7d: -3.43 %
Cегодня L: $66916.68 - H: $68910.37
Капитализация $1360.344b Rank 1
Цена в час новости $ 69258.82 (-0.69%)

bitcoin industry nation monthly says state-level could

bitcoin industry → Результатов: 126


Are Coinbase shares an indirect way for institutions to invest in Bitcoin and other cryptos

The flow of institutional investment into the Bitcoin and cryptocurrency industry was a welcome change that marked the previous year. With industry behemoths like Microstrategy and Tesla going bullishThe post Are Coinbase shares an indirect way for institutions to invest in Bitcoin and other cryptos appeared first on AMBCrypto.

2021-8-26 04:00


Sunday Digest: Bitcoin Price, Altcoin Gains, and Craig S Wright

This evening will see the Oscars ceremony take place in Los Angeles’ Dolby Theatre, bringing with it all the glitz and glam of the average Bitcoin conference. Or perhaps you prefer to celebrate the less well-respected end of the film industry, in which case, both Cats and Rambo: Last Blood are nominated for eight Golden Raspberries (Razzies) each.

2020-2-9 18:00


Фото:

Charlie Lee – “Buy A Whole Bitcoin Before You Buy Altcoins”

When you’ve been in the industry as long as Charlie Lee, it isn’t uncommon for them to start giving out advice to newcomers in the industry. The creator of Litecoin has recently advised to newcomers that you should invest heavily in Bitcoin and Ethereum before you go head first into any altcoins, but what’s strange is that he’s given himself the same advice.

2018-7-18 15:00


Фото:

Promoted: The Future of Online Shopping Is Powered by Spl.yt — A Decentralized E-Commerce Protocol

As a rapidly growing business sector, e-commerce continues to open up new avenues for exploring, comparing and purchasing products worldwide. Spl. yt, a smart contract protocol, aims improve the e-commerce system for buyers and sellers by automating functions currently performed by “middlemen” marketplaces like Amazon, eBay and Alibaba.

2018-7-16 19:45