Even though the market hasn't really reacted to this news (which I suspect is due to the fact that it's proposed/didn't happen yet), this is one of the most bullish news in a very long time in my opinion (even more bullish than companies buying into it). I suspect this will start the domino effect of countries slowly, but surely adopting BTC.
It'll probably be the smaller countries first where they don't have great currencies to begin with, so they'll always have to use a foreign one, either USD or an alternative. With USD, they are at the mercy of USG and will get pushed around by them. With Bitcoin, the network itself is kept safe with all the energy and mathematical properties, but the price is very volatile at the moment, though volatility will decrease with increasing market caps.
This will be a very interesting experiment to watch.
It'll probably be the smaller countries first where they don't have great currencies to begin with, so they'll always have to use a foreign one, either USD or an alternative. With USD, they are at the mercy of USG and will get pushed around by them. With Bitcoin, the network itself is kept safe with all the energy and mathematical properties, but the price is very volatile at the moment, though volatility will decrease with increasing market caps.
This will be a very interesting experiment to watch.