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According to Jan3 founder Samson Mow, a new phase of Bitcoin adoption by nation-states may be close at hand, with governments moving beyond skepticism and toward active planning.
Mow told podcast host Danny Knowles that the shift often happens fast — “gradually, then suddenly,” he said — and that a wave of government buying could trigger broad panic buying among countries that want to avoid being left behind.
US President Donald Trump has recently signed an executive order creating a framework for a Strategic Bitcoin Reserve. But, based on Mow’s comments, the US has not yet begun buying under that plan.
The US still holds 198,012 Bitcoin, according to Bitbo data, but Mow argued the Treasury needs to start acquiring coins for the reserve. He warned there is a risk of being front-run by other countries that move faster.
Mow singled out Latin America as a place where major moves could come first. Political and currency pressures in parts of the region make alternative stores of value attractive, he said.
Fidelity Digital Assets published a paper in January that suggested more nation-states, central banks, sovereign wealth funds and treasuries might build strategic positions in Bitcoin — a view that supports Mow’s outlook.
Mow acknowledged that the expected 2025 bull run has not appeared as many predicted, and he suggested the cycle may be pushed into next year.
He has been vocal before about bullish targets, at one point saying a $1 million Bitcoin is “a given,” possibly this year or the next.
Those strong views are now being balanced by analysts who point to ETFs and institutional flows as factors that could change how price cycles behave going forward.
Meanwhile. Alex Thorn of Galaxy Digital has said a Strategic Bitcoin Reserve in the US is likely before year-end, while Bitwise chief investment officer Matt Hougan recently told investors he expects 2026 to be an “up year.”
Market data shows Bitcoin trading at $109,425 at the time of reporting, down 5% over the past seven days, which some analysts use to argue the current market move has been slower than many anticipated.
