Your skepticism is reasonable. Somehow, government recognizing Bitcoin appears to be positive, because of the normal psychological effect of reliability that happens when it is that the government is in support of something (just guessing anyways). it's always not. Base on this, Bitcoin is regularly confined to a speculative asset instead of a fiat currency.. It is obvious governments usually make use of this "acknowledgement" to impose high taxes and destroy privacy, which definitely discourage investors. Some endorsements are very detrimental sometimes.