Democratic legitimacy comes from the democratically elected government, regulating the economy is accepted by pretty much all democracies as one of the powers o

Democratic legitimacy comes from the democratically elected government, regulating the economy is accepted by pretty much all democracies as one of the powers of a government. I am not sure if that is what you mean by "the might of an institution." I think a democratic currency should be the one selected by the democratic government in most cases. Otherwise, if you accept my premise above that a currency like Bitcoin is good for asset-holders, they could use their influence in the economy to force non-asset-holders to use Bitcoin. That would be the opposite of democratic since it would be more wealth = more votes.