Many folks are saying that bitcoin is “captured” by institutions and others are saying that bitcoin needs to be the “Medium of Exchange” (MOE) In order for $BTC to become a MOE it has to loose its volatility which is presently at -28% to -47% if you have been in bitcoin for the past year or so and only up to +8% in the past 2 years. For bitcoin to become more stable so merchants can reliably price their goods and services and traders (customers) to trade bitcoin both parties of the exchange also need stability in order to budget their money for future trading and long term investment . We simply cannot want volatility, NGU and also want everyone to use $BTC as a MOE. The two (NGU and MOE) cannot coexist peacefully without either side believing that they are mutually beneficial to each other. Bitcoin is not “captured” because on-chain analytics still documents that the majority of Bitcoin users around 70% are private individuals not affiliated with institutions. So the notion that bitcoin is captured is a false assumption. Can bitcoin become fully regulated and institutionalized? Yes it can and all users need to be aware and not fall into the trap of institutionalizing their bitcoins and keep some in their own wallet addresses that they only control. For bitcoin to become a medium of exchange and not captured we ALL do need to use bitcoin but also not expect that NGU will always exist nor want it to exist if we expect stability in the market place for goods and services.