cryptos are risk assets, not safe havens, so don't expect people to put money in them once full risk aversion kicks in.
I don't think it's yet been decided what they are.
Your right that when seen in the context of a stock they're risk assets but the precedents of Cyprus, Argentina and Spain say that they are also seen as an escape route in a bank run. That's because crypto has one thing that classical "stock" doesn't have - it can function as a realtime monetary medium, plus one property that classical money doesn't have - it's unlevered base money as opposed to highly levered debt money.
We've never been in this situation before which is why trying to project legacy asset categories onto cryptocurrencies is only ever going to tell half the story I think.
P.S. Greece is back. Bond yields spiking at the same time as their Debt-to-GDP ratio. We're back to 2011 territory. The troika will have to dust themselves off and start creating some new "rescue vehicles". What's it going to be this time I wonder ? Default is usually not on the cards at any cost.
