Except that is mostly printed money. You can't take the crypto market cap seriously. If a significant portion of it tries to get converted from "magic internet money" to real money the price will plummet.
You realise that applies to “real money” too right?
Stock has some intrinsic value though. When we talk about Europe - the stockmarket is not so inflated: mostly boring companoes doing boring stuff -> that brings a lot of cash flow.
What do you mean? When converting real money to...?