A growing percentage of citizens own bitcoin. By taking action against bitcoin that impacts the price negatively, politicians would be harming their own constituents. A ban on bitcoin becomes more untenable each year.
By taking action against bitcoin, the government would be strenghting the use case for bitcoin itself. Bitcoin is decentralized, not controlled by central entity. It is value that you can self-custody. If a government takes action against bitcoin, it is just highlighting the use case for bitcoin (executive order 6102 would be difficult to carry out)
Even if governments around the world are against bitcoin, it is going to difficult to have the political will or strategic upper hand to take action.
What do you think? What am I missing?
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