Government money, generally speaking, especially the Chinese kind can never compete with Bitcoin. Full stop. That's like saying the public sector (that has had a 50+ year monopoly) can compete with the private sector that is just now finding its footing. No way.

Bitcoin is already on its way to becoming a very serious store of value. Yes it's volatile or seen as 'speculative' (which is BS) but I'm not sure I would call it a 'niche' SoV?

MSTR (for all the haters out there HA) is the best performing Sap500 stock of the last 4 years and there are some serious institutions talking about Bitcoin custody and long-term value appreciation.

Now that does not mean MoE yet... but it would make sense that large institutions and ultimately banks would 'want it' before more businesses would accept it.

Personally I believe we'll see Btc as a widespread or semi-widespread MoE in my lifetime and it will probably use Lightning.