Park emphasized that the announcement must be genuine, not a marketing stunt, rumor, or misreading of government official statements.
Bitcoin News
A major developed nation adopting Bitcoin on its balance sheet would serve as the ultimate upside catalyst and could push prices to $150,000 overnight, according to ProCap Chief Investment Officer Jeff Park.
"A black swan event for Bitcoin upside would be sovereign adoption," Park stated during a podcast interview published Thursday. He explained that if a major OECD country announced plans to purchase BTC for its balance sheet and actually executed the move, it could trigger a 76% spike from current levels.
Park emphasized that the announcement must be genuine, not a marketing stunt, rumor, or misreading of government official statements. "It would have to be real," he said. "It couldn't be this fake version we lived with for about a year."
Jan3 founder Samson Mow recently suggested nation-state adoption may happen sooner than expected. "I think we're on the tail end of gradually, and we're at the beginning phases of suddenly," Mow stated.
Park also identified clarity on quantum computing resolution as potentially helpful for BTC price action in the short term. He described quantum as a "weird boogie man that people keep talking about," suggesting the uncertainty may factor into why BTC long-term holders have been selling recently.
"If the whales are selling, they are selling for reasons that are probably just as likely to be improbable for the reasons having bought in 2012 and 2011," Park stated. He added that tail events must be ascribed as catalysts for how whale behavior changes.
Glassnode countered that recent selling by BTC whales is nothing out of the ordinary. "Long-term holders have been realizing profits throughout this cycle, just as they did in every previous one," Glassnode stated on Nov. 14.
Park suggested clarity on quantum computing could stop at least the selling pressure. "If you stop the selling pressure at least, then you know the buying pressure is actually adding incremental more capital for price action," he explained. Concern about quantum computing and Bitcoin has been rising recently, with smart-contract researcher Gianluca Di Bella stating the danger posed by quantum computing isn't a distant concern but a current one.
Bitcoin OG Willy Woo recently suggested one intermediary measure involving transfer of Bitcoin to a SegWit-compatible address and holding there until a quantum-safe protocol is developed. At its current price, BTC has fallen 21.13% over the past 30 days. Park's identification of sovereign adoption as the key catalyst highlights how a single major policy shift could rapidly transform market dynamics and investor sentiment across the digital asset sector.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
