So there's been some Russian no mark dribbling on about his government getting on Yobit and spunking their reserves on Bitcoin in the next few weeks.
Of course, dear.
But on a purely practical level if a government were serious about acquiring some, how do you think they would go about it?
Would they keep the stuff nicked by law enforcement? Look into mining? Buy through intermediaries? Be open about it or do it on the sly to make sure us scum didn't pump to rinse them? Would they collude with other governments or establish a position in secret before anyone else?
The law enforcement route could be possible.
If they were keeping the proceeds of what was sold of seized coins anyways, then if they ever wanted to get into investing in bitcoin as a reserve asset (maybe to replace gold as a reserve asset), they could theoretically just keep the coins for themselves instead of making a public auction.
They could also buy in the open market, but the volumes that they would require would quickly pump prices up in my opinion, so I don't think it's a feasible route. Perhaps OTC trading between large institutions as well as other countries central banks once more countries accept bitcoin as a reserve asset will be the way to go.
But either way, it's too early to say the method a country would use to acquire bitcoins for its reserves, when no one has actually done it yet. This can and will change in the future in my opinion, when more countries see how bitcoin can indeed offer a global store of value, just like gold, but much more convenient, portable, and liquid.