Odaily Planet Daily reported that Matt Hogan, a digital asset research analyst at Fidelity, stated in a report titled '2025 Outlook' published on January 7: 'We expect more nation-states, central banks, sovereign wealth funds, and government treasuries to seek to establish a strategic position in Bitcoin.' He added that these institutions may take note of the strategies adopted by Bhutan and El Salvador, 'as well as the substantial returns they have gained from these positions in a relatively short period of time.' Given the challenges of rising inflation, currency devaluation, and increasing fiscal deficits, not allocating Bitcoin may pose greater risks to nations than allocating Bitcoin. If the U.S. continues to advance its Bitcoin strategic reserve plan, 'nation-states are likely to begin secretly accumulating Bitcoin,' Hogan said, 'No country has the incentive to announce these plans, as doing so could impact more buyers and drive up prices.'