And you just have to look at the circulating supply, it's 19,800++, so Bitcoin is really going to be scarce, and if countries are going to put it in their balance sheet, definitely the price is going to soar in the next couple of halvings.
El Salvador alone has like 6000 Bitcoin already, and if nations are going to scrabble because they are going to make it a national reserve, everyone will really on a big fight from average joe investors to institutions and countries around the world.
Thats pretty much the expected outcome. If demand increases, the price will naturally rise. If every nation starts considering Bitcoin as a national reserve, it could make Bitcoin more stable, boosting peoples confidence in using it for daily transactions.
However, with reduced volatility, trading might lose some of its excitement compared to the way it is now. Traders who prefer high volatility might shift to the altcoin market, where price swings are still wild and unpredictable.
I'm not sure though about gold and silver, I think being the traditional assets, there will still be nations also going to have it as reserves. But Bitcoin could be their number one target for now because of the potential uptick in prices in the future.
They might consider Bitcoin as a reserve, but its unlikely theyll hold more than the value of their gold or silver reserves. Take the US, for example: their total gold holdings are worth over $500 billion. Its hard to imagine them risking more than that if they decide to treat Bitcoin as a strategic reserve.
