Unlikely US gov build such great competition for their money printer.
Dave Collum and Tucker Carlson claim #Bitcoin was likely created by the US government, but argue elites won’t allow it to succeed.
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If this would be true, I don't think it's intended to be competition for the printer. It's intended to replace the printer.
If you're printing you know what it's doing and you know that only works for so long. Eventually you know that you can't print anymore because the currency is worthless. That'd be where the government intended for Bitcoin to step in to replace the old failing system.
If BTC was a government project then they'll likely be the holders of satoshis coins. Be a great replacement for their soft money while they have a large reserve in the new system.
Even knowing it's a dead end, I believe the government would have tried to further kick the can down the road, before giving up so much control to decentralized tech. If they created it, it would have been a top-down push, not a cypherpunk effort.
Tucker is a CIA guy trying to give the CIA/govt credit for something as marvelous as Bitcoin.
This doesn't end them continuing to print. They'll do that the entire way down because it's the only path they have other than reigning in the spending (and that's never happening.) I think they realize the can is pretty crushed and not going to be worth kicking much longer.
If they created and hold Satoshi coins plus have plans to seize the existing supply available via public markets then it is still top down control. They'd likely also nationalize mining to not only have a large economic control of the market but would also become a major hash player to control.
As I sit and think about it more how do we know that most scammers/thieves aren't really CIA sponsored ensuring they keep the supply in friendly hands. I still can't buy these were the masterminds behind Bitfinex

Look at how much has been pulled in through shitcoin scams. The anonymity would be great for black ops projects to raise a bunch of funds that can be held to power future control of the network without having to tie the funds back to government control.