For me, I think what who might opposed this is that Bitcoin is very volatile, so there could be politicians that might say that this is not going to work for them as they are going to lose money if they invested on it.
Thats true, especially if theyre not from the same party, it all comes down to numbers. Majority wins, after all.
Speaking of volatility, Bitcoin is still volatile, but its been less volatile this year. Thats definitely progress and should be seen as a good sign for everyone keeping an eye on it.
And only the country El Salvador has really advocated Bitcoin as legal tender and still, there are reports that it's really a bad decision for Bukele about this experiment. On the flip side, the country is still continuing it's massive haul and buying and in this bull run, it going to be worth billions.
The US is also a good example, but so far, the Fed is in opposition on Trump's decision to Bitcoin as a national reserve. But let's see what happens next year when Trumps officially sits in.
Using Bitcoin as a national reserve does come with risks, so countries would definitely employ risk management strategies. Its not like theyd put all their funds into Bitcoin but just a portion, treating it as an investment. Theyd likely only allocate what they can afford to lose, similar to how individual investors approach it.
As for El Salvador, the criticism is pretty normal, especially since its tied to politics, but now their decision seems to be paying off, as their Bitcoin accumulation is profitable at the current prices.
