Interesting take!
In case it'd be so, I guess the main incentive to not disclose those Bitcoin holdings has been for years to avoid sharpening more institutional and State appetites towards Bitcoin, that would have triggered a price hike. But is it still the case? With the Bitcoin Strategic Reserves and BitBonds having become the "cool topics" of the year, I'm wondering what factors would refrain so many nation States to proudly proclaim their new "Bitcoin Power"?
And as we've seen recently, one of the most advanced industrial nations' States, Germany, has gotten rid of its BTC as fast as it could.
Imho, 99% of political "leaders" have been brainwashed since they were born with the fact that currencies are State minted artifacts. and they see anything else as being a scam or a threat.