Bitcoin is unlikely to be made illegal in the US. Too many rich, powerful people are now interested in Bitcoin as an investment. Blackrock is the biggest asset manager in the world & they’re actively pushing their IBIT Spot Bitcoin ETF to clients. If Bitcoin was going to be banned they’d have done it already, it’s too late now that Bitcoin is a major investment vehicle, engrained in the legacy financial system.
Corporations like Blackrock are nourished by bureaucrats because they are willing to do whatever necessary to prop up the dollar.
After the bitcoin rug pull Blackrock loses nothing, not even credibility since unknowingly people will consider them a victim.
Who loses? Small investors whose money tends to have high velocity i.e., turn over quickly. The main thing the U.S. tries to accomplish with bond sales and other derivative tricks is to get money to flow from high velocity holders to low velocity corporations that will prevent those dollars from feeding commodity inflation.