> the US government’s full faith and credit

Increasingly doesn’t mean as much to people as it used to when it comes to debasing their own currency. See the recent lie about inflation being transitory, which Powell literally just admitted isn’t true.

> the number in the bitcoin wallet has no value itself

This is a weird take and I don’t see what your point is. The number in your fiat bank account means just as much as the number in a BTC wallet. The number there is how much you’re entitled to withdraw or spend.