This isn’t crypto adoption. It’s a nation state trying to turn a global chokepoint into a sanction-resistant tollbooth.
Lemme preface what's coming with I don't quite buy the news yet. The FT as only source certainly isn't trustworthy. Plus the particular phrasing of the snippets I've seen makes me think of how Warren's anti-crypto army would want it to be phrased. Wouldn't surprise me if that was written from a leak from that corner of the ring.
On to your statement: Erecting that tollbooth is not sanction-resistant. All sanctions enacted so far have not been disabled because of the existence or use of bitcoin. Only partially circumvented. Furthermore, nation states erecting tollbooths is a tale as old as time. That's what nation states do. Paying your income tax is a toll so your nation state allows you to move somewhat more freely than if you didn't pay up. Lastly, being permissionless means anyone can use Bitcoin. That includes nation states you don't like. You can't have one and disallow the other.
With that in mind, I'd argue using it as toll currency would be better adoption than any number of the hodl-borrow(-fiat)-die crowd could ever achieve.
Lemme preface what's coming with I don't quite buy the news yet. The FT as only source certainly isn't trustworthy. Plus the particular phrasing of the snippets I've seen makes me think of how Warren's anti-crypto army would want it to be phrased. Wouldn't surprise me if that was written from a leak from that corner of the ring.
On to your statement:
Erecting that tollbooth is not sanction-resistant. All sanctions enacted so far have not been disabled because of the existence or use of bitcoin. Only partially circumvented.
Furthermore, nation states erecting tollbooths is a tale as old as time. That's what nation states do. Paying your income tax is a toll so your nation state allows you to move somewhat more freely than if you didn't pay up.
Lastly, being permissionless means anyone can use Bitcoin. That includes nation states you don't like. You can't have one and disallow the other.
With that in mind, I'd argue using it as toll currency would be better adoption than any number of the hodl-borrow(-fiat)-die crowd could ever achieve.