Fidelity has said other countries and even a central bank could follow El Salvador and Tesla into bitcoin this year.

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 "There is very high stakes game theory at play here, whereby if bitcoin adoption increases, the countries that secure some bitcoin today will be better off competitively than their peers," Fidelity analysts wrote. "A small cost can be paid today as a hedge compared to a potentially much larger cost years in the future," they added.

https://www.fidelitydigitalassets.com/articles/2021-trends-impact

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There is very high stakes game theory at play here, whereby if bitcoin adoption increases, the countries that secure some bitcoin today will be better off competitively than their peers," Fidelity analysts Chris Kuiper and Jack Neureuter wrote in a note, adding they "wouldn't be surprised to see other sovereign nation states acquire bitcoin in 2022 and perhaps even see a central bank make an acquisition."

...even a 1% allocation is prudent in light of game theory. the asymmetric risk vs reward is too enticing even if you are anti-bitcoin. if bitcoin fails no harm done. but if you’re wrong and bitcoin continues to be adopted by nations and institutions you’ll lose out immensely. also institutions and high networth individuals are constantly navel gazing that if one of their peers outperforms them with bitcoin they will not idly stand by. tick tock.

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If Russia starts buying BTC then watch the u.s. change their tune about not banning crypto.

It's an arms race. If the US were to ban Bitcoin in response to Russia buying, it would be like banning nukes because your rival has some.