A new report by financial services giant Fidelity claims that countries that adopt Bitcoin early will be better off than their competitors.
According to the report, Fidelity researchers believe a form of game theory is emerging on an international level between countries, with early adopters of Bitcoin poised to benefit the most.
The report reads, “If Bitcoin adoption increases, the countries that secure some Bitcoin today will be better off competitively than their peers.”
Regardless of whether they believe in crypto as an investment, Fidelity believes that nations will be obliged to purchase Bitcoin as a sort of insurance if adoption continues.
According to the research, “a small cost can be paid today” as a hedge against a possibly much higher cost in the future. In order to capitalize on this early acceptance, Fidelity expected that additional sovereign nation governments will buy Bitcoin in 2022. They also predicted that BTC may be purchased by a central bank.
New laws, like the US infrastructure bill approved in November, are helping to establish crypto as a viable asset class, according to Fidelity.
The financial services giant noted that while some lawmakers are working to amend the bill before it goes into effect in 2024, the regulation of digital assets ultimately represented another “milestone” for the crypto industry as it establishes itself.