BTC can't extinguish debts and taxes in any nation-state on Earth.
Taxation is in fact continually reducing the value of Bitcoin when it's applied - you can't pay your taxes in BTC, so you have to sell some of them to gain USD to cover your taxes (easy enough: you do it when you trade). But the person you sell them to has the same requirement - they will have to sell some BTC and trade out into local currency to extinguish tax obligations. The long term trend is everyone eventually must trade out of BTC to cover their taxes.
The trajectory of BTC is inexorably down - the current market is irrational.
Taxation is in fact continually reducing the value of Bitcoin when it's applied - you can't pay your taxes in BTC, so you have to sell some of them to gain USD to cover your taxes (easy enough: you do it when you trade). But the person you sell them to has the same requirement - they will have to sell some BTC and trade out into local currency to extinguish tax obligations. The long term trend is everyone eventually must trade out of BTC to cover their taxes.
The trajectory of BTC is inexorably down - the current market is irrational.