A THOUGHT EXPERIMENT ON CENTRALIZATION AND FORKING AND BTC PURITY

Summary from the TLDR Crypto newsletter

With over $100B+ of centralized stablecoins on chains like Ethereum and Solana, Circle and Tether have outsized influence over future chain forks. If the government decides to fork Ethereum, it could force Tether and Circle to comply. This is the primary reason a chain like Bitcoin, with little centralized control and a decentralized store-of-value asset, remains unique: you can't be the best payment rails and a pure SOV asset.