The stock market goes up because the world economy goes up, allowing companies to make more profit. Someday that might stop, but it’s been going strong since the industrial revolution.

Cryptocurrencies don’t have that kind of track record. They also provide dubious value to society at best currently.

Also this is true of the American stock market, where companies

* represent a broad swathe of the diverse American economy and more or less correlate with it as a whole

* have to issue regular, public, audited statements about their balance sheets

Crypto is none of those things.

The stock market does two things crypto doesn't: - generates consistent cash flows - produces real economic value

The Japanese stock market peaked December 29, 1989. It has yet to reach those heights again, 32 years later.

At least (unlike bitcoin), holders of this stock have received the odd dividend now and again.

Heard of DeFi?