It has been attacked as being too volatile, too risky... all of which have been proven to be false.
The volatility factor hasn't. Bitcoin remains a risky investment due to its volatility, but also because of all the interconnected threats that come with it. Self-custody is both a blessing and a death sentence depending on the person using the system. Phishing, hacking, malware, the irreversible nature of transactions. To us, it's a feature we have learned to cope with and use to our advantage. But to the enemy, it's reasons worth highlighting when they want to control, regulate, or ban & destroy. And if we go head-to-head, they are the ones with the bigger pull.
I am still hopeful that education will win out. It's not difficult to prove that bitcoin's energy consumption is completely insignificant. It's also starting to be recognized by various governments that bitcoin mining is uniquely placed to help facilitate a move to robust renewable network via what is known as demand response.
But how loud are those voices in strength and numbers compared to those of the enemy? I don't think I am making a mistake calling them "the enemy" because that's what they are. How much influence do pro-bitcoin advocates have in US institutions of power, with the President, media, banking, business, etc. compared to the antagonists?
And even if we are stupid enough in the US to fall for this nonsense and ban mining outright, there is absolutely zero chance of a global ban. We already saw how quickly the hashrate recovered and starting hitting new ATHs again after the (ninth?) Chinese ban on bitcoin.
The EU isn't that big of a mining hub as the US is, so a US ban would have muck more adverse consequences I think. The EU is just America's bitch. Pardon my French. When it comes to big global decision-making, they will ask Big Daddy how they feel about it.