On Monday (November 11), Bitcoin surged to $81,846, once again setting a new historical peak. Forbes reported that a strategic advisor under Donald Trump revealed that at least one nation-state has been actively purchasing Bitcoin, suggesting that a 'big event' is about to happen globally.
David Bailey, CEO of Bitcoin Inc, the publisher of Bitcoin Magazine, and Bitcoin strategy advisor to Trump's campaign, posted that at least one nation-state is actively buying Bitcoin and has now become one of the top 5 holders of Bitcoin.
Dennis Porter, founder of the Satoshi Action Fund which helped Pennsylvania pass Bitcoin and cryptocurrency legislation, posted: 'I won't lie... I am more optimistic today than ever before, a big event is about to happen.'
He later reiterated in another post: 'I just finished another international phone call. I can confirm that the nation-state 'fear of missing out' (FOMO) is real. A super cycle is unfolding.'
Since last week, the price of Bitcoin has risen by over 20%, with traders betting that it will hit a key milestone before the New Year.
Small cryptocurrencies including Ethereum rose by 30%, Dogecoin by 50%, and Cardano by 70%, with other mainstream coins also showing explosive growth.
Now, with the Federal Reserve and China creating a 'perfect storm' for Bitcoin prices, there are rumors that a certain country is quietly buying Bitcoin.
In response to Bailey's significant revelation, Forbes analyzed that the five countries holding the most Bitcoin are the United States (holding over 200,000 Bitcoins), China (holding nearly 200,000 Bitcoins), the United Kingdom (holding 61,000 Bitcoins), Ukraine (holding nearly 50,000 Bitcoins), Bhutan (holding about 13,000 Bitcoins), and El Salvador (holding about 5,000 Bitcoins).
Most of the Bitcoin held by countries was seized from criminals, while Ukraine's Bitcoin primarily comes from donations after the conflict with Russia in 2022.
Rumors and speculations about countries buying Bitcoin have circulated for years, especially after El Salvador adopted Bitcoin as legal tender and Bhutan conducted Bitcoin mining experiments.
Earlier this year, various speculations circulated on social media claiming that Qatar purchased Bitcoin worth hundreds of billions of dollars.
In July this year, Trump promised at a Bitcoin conference organized by Bailey in Nashville, Tennessee, to make the U.S. the 'crypto capital of the earth' and establish a Bitcoin strategic reserve, further heightening expectations.
With Trump's victory, his commitment to cryptocurrency has attracted attention.
In July, U.S. Senator Cynthia Lummis submitted a (Bitcoin bill) to Congress, calling for the establishment of a strategic Bitcoin reserve to reduce the U.S.'s rising national debt of nearly $36 trillion by purchasing one million Bitcoins over five years.
Additionally, Pennsylvania passed a bill last month that established some regulatory clarity for Bitcoin and cryptocurrencies, aimed at protecting people's self-custody rights, ensuring their ability to use Bitcoin as a payment method, and setting guidelines for taxing Bitcoin transactions.
