The Bitcoin market is buzzing with rumors and speculations about nation-states accumulating BTC to strengthen their strategic reserves. From the U.S. to Middle Eastern countries, major players may be entering the crypto landscape in a big way, potentially fueling a Bitcoin supercycle.

In a recent interview, Bitcoin advocate Max Keiser noted, "America is doing a good job imitating El Salvador," referencing the country’s historic move to adopt Bitcoin as legal tender. Keiser’s comments highlight a growing trend: countries are reportedly racing to join the Bitcoin revolution, spurred on by an increasing sense of FOMO.

Dennis Porter, CEO of the Satoshi Action Fund, recently ignited discussions on Twitter by confirming that "nation-state FOMO is real" and that “it’s all happening much faster than we expected.” The rumor mill went into overdrive when Forbes published an article suggesting that at least one country may have become a top-five Bitcoin holder.

The source? David Bailey, CEO of Bitcoin Magazine and an advisor to the Trump campaign on crypto strategy. According to Bailey, this country has quietly amassed enough Bitcoin to place it among the top global holders, alongside countries like the U.S. and China. If accurate, this would be groundbreaking news for Bitcoin’s legitimacy and value proposition on a national scale.

For Bitcoin advocates, the rush of national governments accumulating Bitcoin could signal the start of a price explosion. Analysts note that increasing hash rates—driven by extensive Bitcoin mining operations—often precede price surges. As mining difficulty and power consumption increase, so does the rarity and demand for BTC.

In fact, Bailey hinted at Middle Eastern nations potentially gearing up for large-scale mining initiatives. If countries rich in natural resources dedicate substantial energy to mining, they could not only control a significant portion of the hash rate but also influence Bitcoin’s global market.

Bailey pointed to an upcoming conference on December 9–10, where leaders from oil-rich Middle Eastern nations will gather to discuss Bitcoin as a strategic asset. A commitment from any of these countries to add Bitcoin to their reserves or mine it extensively could create a ripple effect, pushing other countries to follow suit.

Should a country with significant resources officially back Bitcoin, we could see an unprecedented surge in adoption rates. This type of movement among nation-states could also signal that Bitcoin is becoming increasingly viewed as a hedge against traditional financial systems—a trend that could send its price soaring.