As Donald Trump gears up for his second term, with the inauguration less than two weeks away, the crypto world is buzzing. Bitcoin prices have surged on the back of his bold promises — to turn the United States into a global hub for cryptocurrency innovation and to wield executive power in favor of crypto adoption. On the surface, this may seem like a dream come true for Bitcoin maximalists and crypto enthusiasts alike. But, I suggest, Trump's love affair with Bitcoin isn’t a triumph of decentralized finance over the establishment; it’s the establishment tightening its grip over decentralized finance.

The Trojan Horse of Institutional Adoption

Bitcoin was born out of the 2008 financial crisis as a direct challenge to centralized authority and a financial system that prioritized the few over the many. Its pseudonymous creator, Satoshi Nakamoto, envisioned a currency immune to government manipulation. But as Bitcoin gains traction in Washington and Trump positions the U.S. as the world’s crypto capital, the line between revolution and co-optation blurs dangerously. His proposal to create a Bitcoin strategic reserve, mirroring the nation’s oil........

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