However upon inspection, sometimes you will realize that the government acknowledging bitcoin is not actually a good thing. First of all, the government's acknowledgement is limited to only being a speculative asset and not as a currency that can be used for official transaction. Second, their rules and regulations usually include AML and KYC which totally strips away investors' privacy and disregards decentralization. Third, governments only acknowledge bitcoin to implement high taxes which only drives investors away.
Even if the government doesn't legalize it, do you think bitcoin will become a currency ? How can it become a major currency without the permission and legitimacy of the governments? We should stop blaming the government when bitcoin becomes a speculative asset and deviates from its original purpose. It was us , and no one else , who turned it into a speculative asset, an investment in the first place, and no one else .
In short , this world is a centralized and government controlled world, regulations , taxes, control are inevitable and it is just a matter of time for that to happen .
So at the end, not all kinds of acknowledgement is good.
For me, everything has its price, there is no such thing as a free lunch.