They already own the federal reserve why bother creating bitcoin?
Because "they" know their fiat game will finish eventually. A debt based money will always fail as we exist in a finite world. Anyone thinking otherwise is mathematically illiterate, rest assured "they" are NOT mathematically illiterate!
They knew fiat dollar would fail when they floated it in 1971. The failure of the fiat is no cost to them, in fact they gain nicely having been the first investors in the scheme (it's very much like a ponzi scheme). Other major early investors include Saudi Arabia and other oil rich places, hence the term "petro dollar". Well the petrodollar is coming to an end (as it was designed to do).
And no this is not a wild "conspiracy theory", many oil rich nations have already vocalised the want for an alternative transaction mechanism to the dollar. In fact nations that have acted upon these thoughts have been attacked and "democratized" quite recently. But Uncle Sam knows that tactic is not tennable when considering the whole planet; he can't shoot everyone, lest he risk being shot himself (China).
Why do you think the USA exports war to the middle east, do you REALLY think it's to better the lives of occupants in that land?
Bitcoin gives a way to make a new "asset" backed currency without having to dip into the gold vaults. Initially the pure bitcoin system is akin to a pure gold barter, then they will build abstracted layers on top, like fractional reserve layer etc. And eventually this abstracted system will again fail and it will repeat until something interrupts it like our star changing state etc.