Could Bitcoin gain greater adoption? Here are the reasons.

One of the most important features of Bitcoin is that its deflationary properties make it an attractive long-term investment. But there is another feature that is often overlooked: Bitcoin's immutability.

There was a revival of optimism in the market after previously struggling with negativity. This is clearly seen in Bitcoin's social dominance.

The social dominance metric rose to its highest monthly level in the last 24 hours. This was no coincidence, given that hopes for a Bitcoin ETF have increased due to the SEC's expiration of the deadline to object to Grayscale's Bitcoin ETF.

But that's not all. Famous Italian car manufacturer Ferrari has just announced that it will accept BTC as payment for vehicle sales.

But not all the good news has contributed to Bitcoin's rise in social dominance. There were also reports that the US was concerned that a Chinese-owned Bitcoin mining operation in Wyoming was a potential threat to national security.

While this does not necessarily indicate a potential negative impact on price, the first two underscore the possibility that demand could be stronger in the long term.

One of the most important features of Bitcoin is that its deflationary properties make it an attractive long-term investment. But there is another feature that is often overlooked.

Bitcoin's immutability and DeFi offer freedom from the traditional financial system and tyrannical government regimes.

The truth is that governments are pushing for stricter regulations to maintain greater control over the masses. This is especially evident in Canada, where regulators have made it legal for banks to suspend accounts without the need for a court order.

Therefore, the long-term outcome could bring more demand for Bitcoin based on the above factor as people try to recover their financial freedom.