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With each passing day, the possibility of a Bitcoin [BTC]<\/a> white swan soars. The market has seen a resurgence in optimism after previously struggling with downside. This is apparent in Bitcoin\u2019s social dominance.<\/p>\n Is your portfolio green? Check out the BTC Profit Calculator<\/a><\/p>\n The social dominance metric soared to its highest monthly level in the last 24 hours. This was no coincidence, considering that the hopes of a Bitcoin ETF<\/a> soared as the SEC\u2019s deadline to appeal Grayscale\u2019s Bitcoin ETF expired.<\/p>\n But that\u2019s not all. Ferrari, the famous Italian automobile manufacturer, just announced that it will accept BTC as payment for vehicle sales.<\/p>\n More than 70 million bitcoin interactions across social media today.<\/p>\n Here’s what’s trending:<\/p>\n \u2192 US officials say they’re worried a Chinese-owned #Bitcoin<\/a> mine in Wyoming will pose a national security threat.<\/p>\n \u2192 SEC will not appeal court’s decision on Grayscale’s #Bitcoin<\/a> ETF.\u2026 pic.twitter.com\/ZeRFkp8uxB<\/a><\/p>\n \u2014 LunarCrush (@LunarCrush) October 14, 2023<\/a><\/p>\n<\/blockquote>\n But not all good news contributed to Bitcoin\u2019s social dominance<\/a> surge. There were also reports that the U.S. is reportedly concerned about a Chinese-owned Bitcoin mining operation in Wyoming as a potential threat to national security.<\/p>\n While this might not necessarily indicate a potential negative impact on price, the former two underscored the possibility of stronger demand in the long term.<\/p>\n The reports of Ferrari\u2019s decision to accept BTC payments also emphasized the growing pace of adoption by mainstream businesses. However, there are many other reasons that could push for the rapid adoption of Bitcoin.<\/p>\n One of Bitcoin\u2019s major traits is that its deflationary characteristics make it an appealing long-term investment. But there is also another trait that often goes overlooked.<\/p>\n Bitcoin\u2019s immutability and DeFi offer freedom from the traditional finance system<\/a> and tyrant government regimes. So, let\u2019s look at how that could lead to more Bitcoin adoption.<\/p>\n The reality of things on the ground is that governments are pushing for more strict regulations as they seek more control over the masses. This is evident especially in Canada, where regulators just made it legal for banks to suspend accounts without requiring Court orders.<\/p>\n \u2066@LeeElci<\/a>\u2069 <\/p>\n Lee. Did you hear about this ! <\/p>\n Canada to freeze or suspend Bank accounts without a Court Order & this is like what was done to their Truckers & On Line cancel culture monitoring squads<\/p>\n It\u2019s JUST Like in Communist China \ud83c\udde8\ud83c\uddf3<\/p>\n Next will be you can\u2019t leave home pic.twitter.com\/9TcpLKjIFD<\/a><\/p>\n \u2014 Larry Patrick (@Larry1969) October 13, 2023<\/a><\/p>\n<\/blockquote>\n
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The wheels of Bitcoin adoption could spin faster<\/strong><\/h4>\n
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