This is exactly right. Cryptocurrencies are digital gold. That's what makes crypto so scary. When gold was made too central a part of the monetary/financial system in the 1920s and 1930s, it caused the Great Depression and quite possibly WWII.

Deflationary tokens, if they get too enmeshed with the financial system, tend to be hoarded to a point where they displace productive investment on an economy wide scale, putting a huge gridlock in the economy.

Even Douglas Adams tried to warn us: https://benoitessiambre.com/specter.html