Because it threatens their power?

Your position isn't in a good place if your argumentative strategy is to search out bad motivations in those who disagree with you, rather than laying out a positive case for the position itself.

because btc doesn't have an army?

"Yuppies"? What decade is this?

I dismiss bitcoin not because I have faith in the conventional system, but because I am far more cynically mistrustful than this author! You cannot beat the money machine with anything that works like money, because the bastards who run the money machine will always have more of it than you do. What's more, they are in cahoots with the bastards who run the political machine; anytime you come up with some new idea clever enough to threaten their hegemony, they will simply change the rules out from under you. Try to resist, and you will find that you can only do so to a limited degree, using stupendous amounts of money, which you probably don't have.

I dismiss bitcoin not because I think it doesn't work, but because the world in which it exists will not allow it to work. If it does not fail, it will be assimilated; if it cannot be assimilated, it will be crushed. (Can't be crushed, you say? Maybe not, but the people who use it certainly can, and then what's the difference?)

Is the future price for Bitcoin the main metric of success? Price only measures how much someone is willing to pay, not if the commodity has any value or effects any positive change. Baseball cards and comic books sometimes sell for crazy prices, but I would think someone foolish for going all-in on speculative investments.

Maybe us yuppie elites dismiss Bitcoin because the ecosystem is rife with hucksters and fraud and crime. Or maybe we still remember the Beanie Baby maximalists and how that turned out.