Cryptocurrency will not cause a financial crisis. The proportion of people holding cryptocurrency in the world is very small, and the market value of cryptocurrency is not enough to pose a great threat to the financial system. The financial crisis is caused by the unlimited printing and distribution of money by institutions to cause inflation. Bitcoin is not controlled and restricted by the government, and the total amount is fixed, and it will not be issued.
It is obvious that we should not be worried about crypto "causing" a financial crisis, we should be focusing on how it can prevent one. I have to say that it is obvious for people to mistake what bitcoin is capable of, sometimes they think it is huge but then they realize if it is so huge then when it crashes then it should bring down so many people and create a crisis.
The first part of that is true, it is huge, it is over a trillion dollars even after the fall, we broke over 2 trillion dollars at one point, that is bigger than stock market of so many nations so we can clearly say it is huge. However what people do not realize is that even though it is huge, it is not a huge thing that causes crisis, it is a huge thing that helps crisis, in any bad situation if you are in crypto you are making a good profit, because that is what it is there for and that is how you make a profit during bad times.