And yet in the face of these facts, a near constant refrain from many crypto enthusiasts is that the reason Bitcoin hasn't replaced the world's sovereign currencies like the USD and the Euro is because there's a conspiracy of government regulations to stop it.
Because most crypto enthusiasts have very little understanding of how government works and what they can do. If government really hated Bitcoin, they would take very simple steps - ordering banks to stop servicing large crypto trading platforms and a bit harder but still doable - monitor p2p transfers and freeze suspect traders. This alone would destroy 99.9% of Bitcoin liquidity and Bitcoin would be traded mostly for cash, gift cards, stolen credit cards and so on and basically it would be worth $500 or so. And true believers would still hoard it and wait for the day when government collapses and their coins become world currency.