Yes Bitcoin has already succeeded as a SoV for those who adopted it and many who adopted did so wanting a money free of coercion and intermediaries. However Bitcoin has become mostly used now as a speculative commodity because that is what it has been permitted to be by the legacy fiat powers. They have deliberately made use as a MoE extremely inconvenient by imposing arbitrary tax reporting requirements and by threatening loss of banking access to businesses who dare offer Bitcoin as a payment option. The legacy fiat operators are not so worried about Bitcoin as long as it remains primarily and predominantly used as a speculative commodity as in that context it can be and is being accumulated under institutional custody and control. As the proportion of Bitcoin held in ETFs and corporate Treasuries increases the chance of it becoming a widely used P2P payments protocol diminishes...and thus it does not threaten fiats MoE hegemony. Bitcoin is increasingly a speculative commodity plaything, not a P2P payments protocol. As this happens it becomes increasingly easy to justify a ban on MoE use and self custody but also as long as MoE use is largely obstructed such a ban may not ever be required. Bitcoin is being captured and controlled slyly without most Bitcoiners even noticing or caring as they are distracted by the significant speculative gains they have made to date.