They won’t sure the govt if the govt puts them in charge of the new “govt bitcoin banking reserve.” Easiest way to consolidate power is to give a little bit of it to the people who have the capital you want to control.

The govt would easily PR their way to controlling what they need to if it’s left this centralized and vulnerable. If it’s an existential choice between the govt status quo and the people’s rights, there is no ambiguity in what decision they will make.