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Countries are set to begin stockpiling Bitcoin for strategic reserves, according to a new report by Fidelity Digital Assets.
Stephen Graves
January 09, 2025
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📝 What you need to know
Countries are set to begin stockpiling Bitcoin for strategic reserves, according to a new report by Fidelity Digital Assets.
The financial services giant’s analysts reckon that growing interest from institutional investors is causing “nation-states, central banks, sovereign wealth funds, and government treasuries” to warm up to the asset.
One area that’s leading the way is a newly designated Special Administrative Region in Bhutan, which announced plans this week to formally adopt digital assets including Bitcoin and Ethereum as part of its strategic reserves.
But U.S. president-elect Donald Trump’s plan to use seized funds as the basis of a strategic Bitcoin reserve looks to have been dealt a blow after a court approved plans to sell $6.5 billion in Bitcoin from defunct dark web marketplace Silk Road.
💬 Quote of the Day
“We anticipate more nation-states, central banks, sovereign wealth funds, and government treasuries will look to establish strategic positions in Bitcoin.”
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