Wouldn't say Stiglitz's point was about market movements, his issue was actually quite fundamental. As for tech stocks - sure, they are forward-looking promises taken to the extreme (or absurd, see AMZN's P/E ratio). They do resemble crypto in that regard.

Until economic cycles can take place purely in Bitcoin, it isn't a transnational currency... just a speculative vehicle where you buy thinking more people will buy after you.

Assuming it keeps on growing and stabilizes at some point - why would the world at large confer de-fato seigniorage rights to a plethora of greedy speculators? Hate to say it, at least the government can pretend to look after our interests when it makes prints its money out of thin air. Probably uses less electricity too...