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RE: Australia considering buying Bitcoin as a reserve asset
This is a very good and timely post. Governments are beginning to realize the long-term risks associated with using fiat currencies as a storage of wealth. As you have indicated, I also think we can expect this trend to continue.
Hi Jaaling. It is early stage now but I believe as soon as the first government will start to buy Bitcoin as a reserve other governments will try to do the same in order not to be left behind and it will become a race. In less than w years bitcoin is going to have another halving and it will become more rare. The scarcity+more adoption+wall street and government will drive the price to the moon. I don't know when this is going to happen but there is a good chance it will happen in the next couple of years.
Based on what I've been reading from the experts on this topic, I think that your assumptions are spot on. The halving of Bitcoin will likely be the main driver in accelerating this process, and this of course will mean a major paradigm shift in the global financial order.