David Bailey, CEO of Bitcoin Magazine and organizer of the Bitcoin Conference, recently predicted a significant shift toward nation-state adoption of bitcoin. According to him, this could result in investments reaching into billions soon – as spoken about on X TV channel by him and noted there is already an undercover move towards nationalizing recognition of it happening discreetly.
Are Countries Moving Towards Bitcoin Investments?
Bailey noted that several developing nations are already exploring Bitcoin mining at a national level, beginning with pilot projects over 100 megawatts and progressing to gigawatt-scale initiatives. He speculates that these nations may soon establish national Bitcoin reserves through various means such as strategic stockpiles, central banks or sovereign wealth funds.
He noted that discussions are currently taking place in numerous countries about Bitcoin adoption on a state level, signaling a dramatic shift. According to him, discussions in many nations indicate a dramatic shift towards state level adoption of this currency and state governments may soon enter the market in full force with substantial investments being made into this cryptocurrency.
Bailey has gained valuable insights through his active advocacy for pro-Bitcoin policies at high levels of government. For example, he advised Donald Trump’s 2024 presidential campaign regarding its policy regarding Bitcoin-related matters (such as proposals to free Silk Road founder Ross Ulbricht and create a national Bitcoin stockpile from confiscated BTC). Furthermore, his efforts have spawned domestic mining initiatives.
Bailey underlined the significance of the US presidential election for Bitcoin adoption by emphasizing its collective journey over 15 years and efforts of the Bitcoin community. He believes that its acceleration by this election may accelerate Bitcoin adoption dramatically.
Bailey is well known for his international involvement, hosting Bitcoin Conferences worldwide. Recently he suggested discussions with global leaders from the Middle East about Bitcoin as a strategic asset during MENA Conference – suggesting sovereign adoption could mark an historic turning point.
At present, Bitcoin’s trading price stands at $69,117 – reflecting an increasingly active market and rising interest in crypto investments.
