[david_shi]

This is circular reasoning. It doesn't need the approval, what it shows is official capitulation to a "distributed, trustless currency".

That's the big news.

[metw02024]

On the contrary... bitcoin desperately needs this approval. The current (and future) price of BTC is absolutely predicated upon the greater fool theory.

The network is dependent on miners. Miners earn bitcoin but spend dollars to create it. They're dependent on price appreciation to provide the liquidity that sustains their business. Without this approval, who is going to continue to pay more for bitcoin?

[etherael]

Or what it shows is official acknowledgment that the rubes bought this narrative whilst if you look at the details, it's effectively a CBDC.