Sovereign ‘Gold Rush’ for Bitcoin Imminent: Insights from Industry Experts

The global race for Bitcoin’s limited 21 million supply is expected to accelerate dramatically, with U.S. adoption setting the stage for what some experts are calling a sovereign “gold rush.” Alessio Quaglini, CEO of Hex Trust, recently emphasized this point in a CNBC interview, highlighting how Bitcoin’s recent surge past the $100,000 psychological milestone signals the onset of its institutional phase.

This phase follows Bitcoin’s technological evolution and the retail adoption boom that occurred after major cryptocurrency exchanges were established.

Quaglini predicts that sovereign demand for Bitcoin will soon dominate the market, driving the asset’s value to unprecedented heights. He noted that this competition could become particularly intense among the 195 countries globally, especially as Bitcoin’s U.S. adoption continues to gain traction.

Scarcity and Long-Term Strategies Drive the Market

One of the driving forces behind this anticipated gold rush is Bitcoin’s inherent scarcity. Trading data reveals that approximately 75% of Bitcoin’s circulating supply remains inactive, underscoring the dominance of long-term holding strategies among current buyers. Quaglini warns that this scarcity could lead to a “fear of missing out” among nations, particularly those seeking to secure a share of the asset’s estimated $2 trillion market value.

This long-term holding strategy reflects growing confidence in Bitcoin as a store of value, especially as the cryptocurrency continues to gain recognition for its resilience and decentralized nature. As Bitcoin’s supply diminishes further, the competition to secure reserves could redefine global financial strategies.

U.S. Adoption Sets the Tone

Quaglini’s remarks align with the broader sentiment among industry analysts and executives who believe that U.S. adoption has dispelled lingering concerns about Bitcoin’s reputation. Recent developments, such as the nomination of crypto-friendly figures like Paul Atkins for the role of Securities and Exchange Commission chair, and discussions around a potential “crypto czar” in a Trump 2.0 administration, have bolstered optimism about Bitcoin’s role in the American financial landscape.

Sovereign governments are beginning to take note. For instance, Eros Biondini, a member of Brazil’s Chamber of Deputies, has proposed allocating 5% of the nation’s foreign investment treasury to Bitcoin. Meanwhile, in Russia, President Vladimir Putin has openly praised Bitcoin’s censorship-resistant nature and unstoppable potential. Russia has also taken steps to legalize Bitcoin as property and standardize crypto mining practices, positioning itself as a key player in the Bitcoin reserve race.

Global Interest in National Bitcoin Reserves

The trend extends beyond the U.S. and major powers like Russia. In Poland, presidential candidate Sławomir Mentzen has pledged to establish a national Bitcoin reserve if elected. Similarly, local jurisdictions in the United States have shown interest in Bitcoin reserves. According to Dennis Porter, founder of the Satoshi Act Fund, more than 10 U.S. states have advanced legislation aimed at creating Bitcoin reserves. In Vancouver, Mayor Ken Shim has proposed using the city’s treasury to buy Bitcoin, signaling the cryptocurrency’s growing appeal as a strategic asset.

A New Financial Era on the Horizon

The Bitcoin “gold rush” appears to be in its early stages, with sovereign governments and local jurisdictions jockeying for position in a rapidly evolving financial landscape. As Quaglini noted, Bitcoin’s mass adoption in the U.S. could act as a catalyst for a global race, compelling nations to secure their share of the digital asset’s finite supply.

With Bitcoin’s value proposition firmly established and its reputation on the rise, the coming years could see an unprecedented shift in how nations view and utilize this decentralized asset. As 2025 approaches, the first lap of this sovereign Bitcoin race may already be underway, laying the groundwork for a transformative era in global finance.