The government buying bitcoins (the coins) is not related to it owning the Bitcoin network.

Individuals still control the majority of supply. Everyone with internet access, including governments, can opt in anytime they want

The problem with a Bitcoin reserve or standard is that it leads to the very problem that Bitcoin was intended to solve: Centralized currency. Take some countries like El Salvador that have straight up adopted it as legal tender, for example. I apologize if I come across as a negative Nancy to a lot of people, but I feel like the BTC industry has sort of become misguided over how it should be vs. how it actually has been, if that makes any sense. You can still use your country's currency and cryptocurrency at the same time.

It is not owned by any government. And in the end it doesn’t matter - bitcoin doesn’t need any government to grow. It’ll just accelerate the mass adaptation. Just imagine the Trojan horse- once in the “city“ it won’t go away anymore. And because it is not proof of stake it doesn’t matter if a large institution holds a lot of it cause they still can’t change the rules. And just that you know, the institutional BTC are the most expensive ones. The majority do have the people. And if countries now trying to adapt a lot they will be hindered by the skyrocketing price. So, relax and enjoy the show…

Technically it is since Bitcoins are set at a fixed supply of 21 million. Then again I suppose as long as governments don't have a huge chunk of the supply in their reserves, then it shouldn't be super frightening.

But then after all they still have to trade globally and if the wold just accept btc they have to use it

As I said, “Accelerate.”

Yet it works fine in El Salvador for micropayments and has also worked for my local partners there instead of using banks and receiving money from abroad 🤷‍♀️