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Do we have sovereign nations/central banks buying Bitcoin yet?

Do we have sovereign nations/central banks buying Bitcoin yet?

Bitcoin Reddit

Reddit / Bitcoin Reddit 52 Views

I think yes - as of very recently. This 'pump and plateau' buying for the last few months is different to 2017. The money involved is too big and too coordinated. People's Bank of China? They were buying gold earlier in the year. They know they are about to depreciate their currency to fight a trade war.

The pump and plateau buying indicates to me a very deep pocketed buyer (or a few of them) buying in spurts so as not to spike the price too much at a time and take advantage of any bearishness left in the market between buying.

If there is more 'pump and plateau' buying in the coming weeks, then my suspicions will grow. If it is one or more sovereign nations buying, then things will escalate very, very fast. The risk would be too great for any nation-state to be left behind if/when belief and confidence in Bitcoin reaches a certain critical level.

Edit for clarity

submitted by /u/FickleWealth
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