Bitcoin has created fortunes for many. Like all pyramid schemes those who know how to trade it or get in early often make a profit. But there have been many losers as well but their stories are rarely told.
Keep in mind that even though it has some practical applications, it was created out of thin air so there is nothing exclusive to Bitcoin as it can be replicated many times over as it has been. Bitcoin is now only about 50% of the total crypto market cap when at one time it was 99%. Yes it was the first mover and widely adopted but that is no guarantee that it will not be replaced by a better engineered crypto coin in the future. Also the use of so called "stable coins" in trading such as tether which have extremely low audit standards makes it even more suspect.
I do not think the government should attempt to regulate private sector economic activity but the the insane decision to infect the futures and derivative markets with this illusionary industry that has no physical value increases the likelihood of making its collapse to be a systemic risk to our economy.
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