Because an individual can run a miner with access to electricity and can use bitcoin permissionlessly with access to the internet. If the institutional class tries to shut down electricity and/or the internet then the world as we all know it falls apart. “Mutually assured destruction” doesn’t seem like an attractive tactic to be used by the institutional class.

I don’t think there is a world where the bureaucracy can enforce any “regulations” they try to impose. The cost of imposing themselves on bitcoiners will be far too high.

In that way, we’re already in a hyperbitcoinization phase … it’s just a slower adoption timeline than a lot of us would like AND are used to with obvious market arbitrages staying open for years on end…