Stocks give like 20-30% returns in an year but bitcoin and other crypto coins can give this much return in just one day. At such, do you think that increasing popularity of bitcoin has reduced interest of people in stocks.
I think in some countries, people are really shifting to crypto only and most of their investment portfolio is in the form of crypto instead of stocks. The awareness related to crypto is increasing day by day and this more people are getting included in this crowd. Stocks on the other hand become saturated, people have realized that these stocks are not as much profitable as bitcoins. Also, there are other benefits of bitcoins like it can be used for transactions. This cannot be done with stocks.
You can't blame them since the profit in Bitcoin after some years of waiting is really big, compare to stocks that you need to wait so long before you could make profits. People started to believe in Bitcoin because of its great potential. Even though a lot of people still doubt Bitcoin, some of them sees the chances of making wealth in the long run that they can't make in any other investment they made before.