If the U.S. really accumulates BTC at this level, its appreciation will be inevitable. But the concentration in state hands could compromise decentralization.
:saylor: Michael Saylor on buying 20% of the #Bitcoin supply - "I think it should be the United States, I think it will be the United States."
https://junkflex.com/bitcoin/us20.MP4
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Discussion
Theoretically, it wouldn't, but realistically, it could. I believe it would ultimately depend on the exact influence the U.S. has on the developers. However, their influence on the developers would remain the same regardless of their holding size.