Among the list of top potentials is Mexico. Mexico is the world’s 15th largest economy and the third-largest trading partner of the U.S., the world’s largest economy. Should the country make Bitcoin legal tender it would be a major coup, in the order of magnitudes greater than anything else that has so far preceded it.

Mow is not alone in identifying Mexico as a vast opportunity that could be ripe for the plucking. Mexico is home to the Bitso exchange which is valued at $2.2 billion, making it the first crypto unicorn in Latin America. Tether recently launched MXNT, a peso-backed stablecoin, in an indication of the company’s growing focus in the region.

Mow tends to believe that Mexican national adoption is a real possibility. “I believe you have the foundation there,” says Mow, citing the efforts of Senator Indira Kempis in “paving the way.”

For now, the issue remains speculative, but whatever nation-state follows next, it appears the race to nation-state Bitcoin will only accelerate from here.