This may just be me being cynical, but any attempt to convert any significant about of Bitcoins to anything real will collapse the price further.
Crypto gains only were people imagining money into existence. This is the problem of going off the gold standard.
Actually, stocks are slightly different. Because stocks are based on an underlying real company producing real services and goods, it's worth something even if you don't sell it. This is because stocks can pay dividends or do buy backs.
Crypto does not pay dividends or do buy backs. If they do, they should be classified as a security.
No, they are not. Stocks prices are solely based on their supply and demand in the market. Products and services may play a role in the demand fro the stock, but they are not the sole determinate of price. Take AMC for example...
Shareholders can usually push back via voting, but depending on the way the company is setup they could still successfully dilute smaller shareholders.
But a stock is the ownership of a company, which produces goods and services.
>it doesn't need to be traded as such.
Only a small percentage of sellers can convert an asset into the current dollar price in every market, regardless of where the underlying is used.
This is true for every asset. Once supply outpaces demand, price moves down.
If Bitcoin would be used as a store of value instead of gold, gold can be used for other material purposes for a lower price. The same goes for real estate. A house does not have to be an investment asset or store of value. If (institutional) investors would use Bitcoin instead of housing, it could make housing affordable again. Or at least result in more fair/realistic housing market instead of the propped up market from the last few years.
Compared to gold and real estate, Bitcoin is a scarce asset that can easily be divided into small pieces. It has a liquid market and can be exchanged 24/7 anywhere in the world.