it depends on how you define sovereign. the reasons you listed against bitcoin actually work in your favor from the point of view of wealth accumulation. if you're very poor, but can have transactional privacy, are you truly sovereign? conversely, if you're filthy rich but have zero privacy and operate under a system that trends towards totalitarian control because it's transparent, are you truly sovereign? you need both, I would argue. ideally that would be one asset, but right now (albeit less clear over the last year, monero has actually completely destroyed bitcoin in terms of capital appreciation) it isn't. so why not ride both waves and get the best of both worlds?