Why governments are not the only ones sceptical about Bitcoin's adoption.

[Alpha Marine]

In a way, the government is ran by the rich. It's always their welfare that the government prioritizes.

Exactly. If Bitcoin were owned and controlled by the rich, the government would have been more open towards it. If banks and other Wall Street guys were the ones who owned Bitcoin, they wouldn't be too sceptical. But Bitcoin is the opposite of their business model. Whatever they're doing now to integrate it into their business is just because they have to be dynamic and keep up with the changes in the world.
We saw how the governmnet listened to the banks about the stablecoin issue that made coinbase CEO and other exchanges speak up.
If things are good for the rich and elite, then the governemnt will find a way to make the people think that thing is good for them.

[KingsDen]

In a way, the government is ran by the rich. It's always their welfare that the government prioritizes.

Exactly. If Bitcoin were owned and controlled by the rich, the government would have been more open towards it. If banks and other Wall Street guys were the ones who owned Bitcoin, they wouldn't be too sceptical. But Bitcoin is the opposite of their business model. Whatever they're doing now to integrate it into their business is just because they have to be dynamic and keep up with the changes in the world.
We saw how the governmnet listened to the banks about the stablecoin issue that made coinbase CEO and other exchanges speak up.
If things are good for the rich and elite, then the governemnt will find a way to make the people think that thing is good for them.

The government is not just skeptical about Bitcoin, there are simply not happy because bitcoin is not their creation. The government is not skeptical that they will lose money in Bitcoin or bitcoin will stop existing in the nearest future. They are not just comfortable that bitcoin has not made it easy for them to control everything. Government is the mother of centralization and the Bitcoin principles stands against centralization. I think this is where the crack is coming from.

Government is fighting to be able to control bitcoin 100% before they will give in their all. And this is something that is likely not going to happen because they are a lot of people behind Bitcoin. Unless the masses loses interest in the Bitcoin business before the government will be able to hijack it. For now, the masses are super interested.

[Strongkored]

Interestingly, it's not only governments that are sceptical, the rich is also sceptical.

In recent years, much has changed. Wealthy individuals have become actively involved in the Bitcoin market. They not only buy but also influence the market through the volume they purchase.
Similarly, some governments have legalized Bitcoin, and this number is likely to continue to grow, as they see examples from other countries that have legalized Bitcoin.
Bitcoin adoption will continue to grow and those who were previously skeptical will start to accept it.

[rat03gopoh]

While inflation can devalue money held in cash, if Bitcoin is held instead it can't be devalued, reason it's usually referred to as an hedge against inflation. So while there's a person increase in prices of good and services, the value of cash is retained if Bitcoin is held, and then   there's no much cash in circulation to rapidly pursue assets Herby going a long way to increasing the rapid value of assets held by the rich.

All these statements are nonsense, and the logic is flawed.
Who is using Bitcoin as a hedge? Does a limited supply mean a stable value, or will it forever be subject to extreme volatility? Who do you think can limit the supply and demand of the Bitcoin market?

[cryptoaddictchie]

While inflation can devalue money held in cash, if Bitcoin is held instead it can't be devalued, reason it's usually referred to as an hedge against inflation. So while there's a person increase in prices of good and services, the value of cash is retained if Bitcoin is held, and then   there's no much cash in circulation to rapidly pursue assets Herby going a long way to increasing the rapid value of assets held by the rich.

So when we talk of Bitcoin's adoption, let's also look beyond the government, because some secs of the rich are also sceptical!

It can be also got lowered in value and its depend on the price of the bitcoin it got acquired. When you bought at $120k during the time its pumping then you are down considerably. It may not be devalued but the value at time you bought decrewse its value based on the amput  he bought.

Im a bitcoin supporter and I didnt want it to see devalued or drop but it doesnt mean it cant give you negative port for that by holding.

[Alphakilo]

Interestingly, it's not only governments that are sceptical, the rich is also sceptical.

In recent years, much has changed. Wealthy individuals have become actively involved in the Bitcoin market. They not only buy but also influence the market through the volume they purchase.
Similarly, some governments have legalized Bitcoin, and this number is likely to continue to grow, as they see examples from other countries that have legalized Bitcoin.
Bitcoin adoption will continue to grow and those who were previously skeptical will start to accept it.

Bitcoin adoption is just about $1 million left from the $21million to be mined and that says a lot that those who were once critics are those who have bought into the spot ETF because they have large pocket and thus holds more than those who have been sceptical to begin their own investment by DCA strategy or lump sum.
Even governments know how important Bitcoin is like Gold, hence there's strategic reserve banks to hold BTC instead of selling off those seized from criminals or suspected money launderers.

Bitcoin is decentralized from government control even if they create centralized systems to control it, it can't be fully controlled and contained, that's why the best advice is to have your own share of the pie instead of telling your grandchildren later how you knew about it in your time but did nothing about it.