"By comparing those holdings with 10 years of money supply information and inflation data, Jaitly, 42, concluded 'that as money supply was increasing, and as fear of inflation was increasing, bitcoin adoption on a sovereign level was also increasing,' he says. 'And so there was a relationship that was statistically significant.' The study excludes North Korea, for which he says inflation data was unobtainable."
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Forbes
U.S. Government Owns Way More Bitcoin Than Any Other Country–So Why Aren’t They Selling It?
Washington owns nearly $2 billion worth of seized bitcoin and has been reluctant to part with it. That may represent inertia more than strategy.