These people lack the most basic logic. Just because it went up tens of thousands of times before, does that mean it can go up tens of thousands or hundreds of times again in the future? How is the U.S. government supporting this? BlackRock launching an ETF to collect fees counts as support? Even if they all support it, what does it have to do with you? It's not about you thinking it's OK, but about looking at which authoritative figure/institution endorses it and deciding it's OK—that's why countless retail investors get burned.