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

2 mins
Updated by Daria Krasnova
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In Brief

  • David Bailey, CEO of Bitcoin Magazine, said many countries are conducting energy-intensive pilot projects for Bitcoin mining.
  • Bailey argued that this could soon pave the way for national reserves and substantial investments in the top digital asset.
  • This shift reflects a growing interest in Bitcoin as a means of achieving financial autonomy and reducing reliance on the US dollars.
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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
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.

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Oluwapelumi Adejumo
Oluwapelumi Adejumo is a journalist at BeInCrypto, where he reports on a broad range of topics including Bitcoin, crypto exchange-traded funds (ETFs), market trends, regulatory shifts, technological advancements in digital assets, decentralized finance (DeFi), blockchain scalability, and the tokenomics of emerging altcoins. With over three years of experience in the industry, his works have been featured in major crypto media outlets such as CryptoSlate, Coinspeaker, FXEmpire, and Bitcoin...
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