True, but most countries in the world impose capital gains taxes and FIFO accounting in order to use and spend Bitcoin "legally", which is still a pretty onerous interventionist policy.

This combined with Bitcoin's intrinsically superior SoV properties is enough to drive it out of circulation almost completely.

Repealing CGT is mandatory for Bitcoin to thrive as MoE at scale. I visited Lugano last year and I was amazed at the number of businesses where I could pay with LN (even real state agencies advertised they accepted payment in BTC). Switzerland doesn't have CGT.