I have come across the idea of Sovereign game theory when reading about speculative hyperbitcoinization scenarios. Maybe we're watching a form of it now. The US has approved spot Bitcoin ETFs. The first spot Bitcoin Hong Kong ETF will likely start trading next week. Arthur Hayes described it like this in a tweet:
“Competition is amazing. If the U.S. has its proxy asset manager, BlackRock, launching an ETF, China needs its proxy asset manager to launch one, too,” he wrote.
Meanwhile, Saudi Arabia and Qatar may be making big buys through their Sovereign wealth funds:
https://coinedition.com/saudi-arabia-qatar-rumored-1m-btc-buy-could-come-next-week-analyst/
Is this the start of nation state FOMO, or just a figment of Max Keiser's imagination?