It is absolutely happening. The institutions are gaining an ever higher ratio of custody. And underlying this the actual perception and narrative around Bitcoin has been dramatically shifted to suit the capture and control strategy. Bitcoin is now presented and understood by a majority of not only citizens but also Bitcoiners, as a speculative commodity, not a P2P payment protocol. Redefining Bitcoin as a commodity makes it easier to ultimately impose a ban on private custody and it also reduces the threat that Bitcoin represents even without a ban being imposed. I cannot believe the complacency of most Bitcoiners who claim its not a threat. do they really believe that the most powerful cartel on earth is simply not going to respond to Bitcoins threat to their power and market dominance? Capture and control is the standard response by a monopoly or cartel to a competitor that cannot otherwise be stopped. The complacency of a majority of Bitcoiners makes it a lot easier for them to succeed in capturing the protocol.