Who will be the first country to own Bitcoin reserves and publicly display them?

[ganlianshifu1]

I think it is Japan! Japan has always been open to cryptocurrency and is one of the first countries to accept bitcoin!
Japan is still one of the largest markets for global bitcoin transactions.
With the further development of blockchain technology, the Japanese government will definitely reserve BTC!

[eminemcookie]

I do not think you need a big prediction wizard to know which one it will be.
USA will be the clear choice here when it comes to reserves (don't know what will happen about the publicly part). They have been the first country to regulate bitcoin properly and actually tax the profits of people who have been profiting from bitcoin and they had to pay taxes for their trades and all that so there is already an established network for IRS to tax people. They have been the first country that is considering an ETF and securities for something like crypto and they will be hopefully starting out doing that next month. They are the first country where you can pay your taxes in bitcoin (not that they will hold those bitcoin).

All of those and more came from USA so I wouldn't be shocked if they were the first country with bitcoin reserves.

Thanks for posting this because it was quite eye opening to me, I always have felt that the USA is quite negative towards bitcoin but reading that made me consider that that is perhaps just an early approach and that they're only being negative until they can have bitcoin controlled in the way that they wish. Following that they can reap the benefits from bitcoin's adoption and growth.

[Juggy777]

Just like they are holding big amounts of gold and displaying amounts that I think may be approximate amounts:




Could we see this in the future? I think it's a matter of time. If a country starts accumulating a lot, at some point other countries will not be able to keep ignoring it, and I believe you can't ignore Bitcoin just like you couldn't ignore powder, you must be in. Most likely they hold some already but aren't disclosing it.

I don't think we'll ever be able to see this, cause gold is recognised in all countries, but bitcoins isn't, stealing gold is difficult but hacking a bitcoin wallet may not be difficult as someone from the inside will leak out details. Also putting up a country wallet bitcoins holding is a open invitation for hackers to demand ransom in bitcoins, as they know they won't be traced this is a very risky prospect, and hence I don't believe we'll ever see it.

[olubams]

Its going to be hard for countries to own bitcoin and at the same time flaunt it for reasons such as

1. The era of buying so is graduay coming to an end and the issue of bitcoin ownership has been dispersed in the hands of individuals from the beginning which makes it difficult to legislate a law that would make it a state property unlike other natural assets such as gold, silver even crude oil.

2. Flaunting the ownership of crypto at this time would be seen as an affront on world powers which means ability to avoid sanctions in case of misbehavior. Doing this might even attract the unwanted attention.

[unusualfacts30]

Its going to be hard for countries to own bitcoin and at the same time flaunt it for reasons such as

1. The era of buying so is graduay coming to an end and the issue of bitcoin ownership has been dispersed in the hands of individuals from the beginning which makes it difficult to legislate a law that would make it a state property unlike other natural assets such as gold, silver even crude oil.

2. Flaunting the ownership of crypto at this time would be seen as an affront on world powers which means ability to avoid sanctions in case of misbehavior. Doing this might even attract the unwanted attention.

that's true. I don't think this will happen anytime soon either since there is so much drama going on in global politics between countries and this would just increase that drama. It may happen in the future and I don't think era of buying is coming to an end yet but we may have to wait few more years for anything to happen.

[Moreira]

It will be a average country, like Venezuela, but with other coins, like Petro

[Harlot]

Most probably it won't be the same as the ones who are in the Top 20 countries in terms of holding Gold reserves. Countries who will be holding Bitcoin reserves are probably the ones who are willing to take the risk in order to attain higher Macroeconomic growth and they are the ones who can handle bigger risk compared to the ones in the top 20. Most of the countries in the top 20 are already developed countries and centering their reserves to a volatile currency won't be ideal as there is more risk than reward.

[wdnj]

I dont know what country will be the first one.
Though i know it will be from ASIA (exclude CHINA).
There are so big development in ASIAN country.
JAPAN is one of the fastest growing country with cryptocurrency.

[timerland]

Just like they are holding big amounts of gold and displaying amounts that I think may be approximate amounts:




Could we see this in the future? I think it's a matter of time. If a country starts accumulating a lot, at some point other countries will not be able to keep ignoring it, and I believe you can't ignore Bitcoin just like you couldn't ignore powder, you must be in. Most likely they hold some already but aren't disclosing it.

I believe there is a high likelihood that this will happen in the future, given the fact that bitcoin is structured as a store of value much like gold, and that its limited supply make it appealing for central banks which want to maintain reserves in case of sudden market movements.

There are also significant liquidity and convenience advantages as to moving bitcoin quickly in a global sense, as compared to precious metals, which needs to moved physically. There are also no storage costs.

Of course, this would all require BTC to gain more trust and adoption worldwide. You're absolutely right in the sense that a country could well kickstart the process of holding BTC as a reserve asset in the future, and lead the way to entice others to do so too. It'll certainly be a country which is progressive in terms of crypto policy (e.g. Australia, Malta, Japan just to name a few), but it's honestly very hard to tell at this stage.

[Akpuv]

The United States will most likely lead the pack when it also comes to cryptocurrency. They may be the first to boldly declare their bitcoin reserves if their will ever be need or competition for it economic wise.

[Sirait]

of course Japan, I chose Japan because this country of origin of Bitcoin has proven that their country is the one that has the most survival with Bitcoin... America and China will only be countries that reject Bitcoin for various reasons because they have no control over Bitcoin.

[Sadlife]

Probably japan because it's the first ever country to embrace and legalize it but lately the SEC has been showing interest in bitcoin and has been secretly accumulating bitcoins and investing into blockchain technology and actually other countries has been showing good feedback about blockchain. Most likely for me it's japan or US.

[GreatBug]

I think the favorites are the United States, but the main problem for them will be the bureaucracy and the SEC regulations. It is very likely that Japan will surprise us and it will be the first to reveal itself.

[BitHodler]

I think the favorites are the United States, but the main problem for them will be the bureaucracy and the SEC regulations. It is very likely that Japan will surprise us and it will be the first to reveal itself.

How will it be a surprise if Japan turns out to be the front runner, yet again? They have been the first in many ways, especially with how they allow a group of exchanges to form a self-regulatory body within the exchange industry.

They are also the first when it comes to actively enforcing their own laws and either shut down non registered services completely, or have them halt their operations within Japan if it concerns a foreign player.

Also, how will the SEC prevent the US government from owning a large number of Bitcoins? It's not that any entity, regardless of the nature, can't purchase a considerable number of Bitcoins through the spot market.

Spot coins aren't financial instruments like futures or an ETF.

[mu_enrico]

Diversification is useful if you own a little bit of something that isn't the same as what you already own. If your portfolio consists of EUR, USD, JPY, that's not diversification, but a bag full of similar promises doomed to fail.

From the portfolio theory, diversification is used to reduce the risk. So in this example (fiat), money from different countries have different "country risks." In other words, creating a portfolio of different money will reduce the country risk in a portfolio. However, this kind of portfolio cannot reduce the "world economic risk."

Sure it is doomed to fail, but only if the world economy collapses. If this happens, I'm not sure whether we could use bitcoin as a hedge or not.

[Idrisu]

Just like they are holding big amounts of gold and displaying amounts that I think may be approximate amounts:




Could we see this in the future? I think it's a matter of time. If a country starts accumulating a lot, at some point other countries will not be able to keep ignoring it, and I believe you can't ignore Bitcoin just like you couldn't ignore powder, you must be in. Most likely they hold some already but aren't disclosing it.

It might be one of the thirdword country that may go to used bitcoin or any of cryptocurrencies as capitals reserve.  I think we should need some years before this will happen but it is going to happen one day.  Trading is a game that we have to play wisely and that means we should be looking at the country that will do that and push bitcoin upwards.

[katerinaliisa]

Bitcoin is a private currency and I think that we will not see the moment when it will be owned by any state. Some bitcoins are in private hands, the rest is also mined by individuals. It is unlikely that any of them will give the state their mined coins. Would you give your coins to the state?

[perfect999]

Interesting future between countries dominance in bitcoin. This ranking could lead us into conclusion that from top 20 countries there will have much more progressive than the other. Maybe USA win this category due to huge USA citizens. However, things change like ethereum and ripple ranking. So this matter is still on going.

What is huge USA Citizen ? As of now USA is a bitcoin friendly country but in future anything may happen. All these are purely depending on how bitcoin will be performing. If bitcoins hit mainstream of adoption then probably it will have more chances to be accepted by government too.

Just think about the reverse. If governments start to accept then people will easily make bitcoin as a mainstream payment system. So it will take time anyone of these to happen.

[magneto]

Just like they are holding big amounts of gold and displaying amounts that I think may be approximate amounts:




Could we see this in the future? I think it's a matter of time. If a country starts accumulating a lot, at some point other countries will not be able to keep ignoring it, and I believe you can't ignore Bitcoin just like you couldn't ignore powder, you must be in. Most likely they hold some already but aren't disclosing it.

It's up to the central bank of each country to decide this. But I don't think we're far from seeing bitcoin in central bank reserves.

After all, bitcoin is already a universally recognised form of payment, and financial instrument. It is also way more portable than gold, which obviously poses significant advantages for central banks who want to keep BTC in their reserves to implement monetary policy, or to maintain their exchange rates. Bitcoin can definitely replace gold as a store of value on central bank's balance sheets, given more adoption and market maturity, and less short term price fluctuations.

I think that countries such as Japan that are already quite advanced in terms of crypto acceptance and regulation will seriously look into this. Financially unstable countries that are looking to launch their national cryptos like Venezuela could hold bitcoin to maintain their own crypto's value as well. With the flood of institutional investors, it's only a matter of time to me.

[0t3p0t]

Just like they are holding big amounts of gold and displaying amounts that I think may be approximate amounts:




Could we see this in the future? I think it's a matter of time. If a country starts accumulating a lot, at some point other countries will not be able to keep ignoring it, and I believe you can't ignore Bitcoin just like you couldn't ignore powder, you must be in. Most likely they hold some already but aren't disclosing it.

If countries will start accumulating Bitcoin I think they can afford to exchange gold with it. Bitcoin is more valuable than gold though gold has this significance in industrial works but still Bitcoin has potential and has special role in a particular country most especially those  countries that needs economic improvements. I think a country that backs it's economy with Bitcoin will make sense compared to backing it with gold reserves. This actually depends on what country and how they adopt or treat Bitcoin legally and economically.