"I think we're on the tail end of gradually, and we're at the beginning phases of suddenly," Mow told Danny Knowles on the What Bitcoin Did podcast published on YouTube on Saturday.

"These things happen very quickly," Mow said, referring to the potential for more countries to adopt a Strategic Bitcoin Reserve.

"It's like literally gradually then suddenly," he said, adding:

"I think it is simply a matter of time before we see a massive run-up, and we see a massive nation-state FOMO, you know, panic."

Mow emphasized that while US President Donald Trump has signed an executive order to establish a Strategic Bitcoin Reserve, the US still hasn't started buying. 

US is "pushing forward" with Bitcoin plan

However, he pointed out the nation is "pushing forward" with budget-neutral Bitcoin acquisition and the Bitcoin Act.

Galaxy Digital's head of firmwide research, Alex Thorn, recently said there is a high likelihood that the US government will form the highly anticipated Strategic Bitcoin Reserve by the end of this year.

While the US still leads all governments in total Bitcoin holdings, Mow told Cointelegraph Magazine in June that the US "has to start" acquiring Bitcoin this year.

"The risk is that the US is front-run by Pakistan," he explained. At the time of publication, the US government holds 198,012 Bitcoin, according to Bitbo data. 

Mow anticipates significant Bitcoin moves from the Latin American region, which he says is one of the areas he is most bullish on.

Nation-state Bitcoin adoption has been a widely discussed talking point in the crypto industry this year.

Fidelity Digital Assets said in a research paper in January that it anticipates "more nation-states, central banks, sovereign wealth funds, and government treasuries will look to establish strategic positions in Bitcoin."