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More sovereign nation states, or possibly a central bank, are expected to buy bitcoin this year, according to Fidelity

“There is very high stakes game theory at play here, whereby if bitcoin adoption increases, the countries that secure some bitcoin today will be better off competitively than their peers,” the firm explained.

Earlier this month, Fidelity Digital Assets, a division of Fidelity Investments, released research on cryptocurrency developments and their possible future implications. The adoption of cryptocurrencies by sovereign nations is one of the topics covered in the report.

Last week, El Salvador’s president, Nayib Bukele, projected that two more sovereign countries will embrace bitcoin as legal cash this year. Nigel Green, the CEO of Devere Group, is more positive. Three more nations are expected to embrace BTC as legal tender this year, according to him.

Jeewan Singh
Jeewan Singh
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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