That's up to the authorities. They might treat it like a...

That's up to the authorities. They might treat it like a bankruptcy were they offer 1c in the dollar (any opinion is just speculation). My guess is they will use fear and outrage to get the non-holders to agree with the abolishment. The American establishment has a long history of manipulating it's people to do their bidding. OR they could take control of Bitcoin like they have attempted to do with gold (create a market of paper derivatives, where they can move the price without being in possession of the actual commodity).
Money is a form of slavery (this is indisputable) ask yourself do the ones with the power want to allow a system that they have no control over?
the American people are not controlled by governments, they are controlled by organisations like the NRA, and investment companies like Blackrock and JP Morgan. If Jamie Dimon is mouthpiecing that he wants to see Bitcoin outlawed, the writing is on the wall IMHO.