And that's why the state hates it.

The state, as a monopoly on violence, is an embodiment of inequality. For example, a police officer can arrest you, but you can't arrest them. A central banker can print money, but if you do, they will call it counterfeiting and throw you in a cage. The taxman can surveil anyone's bank transaction, but you can only view your own. A judge can sentence you, but you can't sentence them.

In Bitcoin, no one can print, but anyone can mine. Anyone can view the public ledger. Anyone can spend their UTXOs and no one can spend anyone else's. The state is discretionary, Bitcoin is rules-based; the rules are the same for everyone and only have one interpretation. It doesn't discriminate, because it doesn't know who you are. Either anyone can do something, or no one can.

And this equality is antithetic to the state. If there were equality, the state wouldn't exist. The equality that Bitcoin brings is an existential threat to the state.