USA500.IDX hit all times hights

Hi all,

Besides impressive upwards moves of cryptocurrencies, today USA500.IDX hit all times high at 2,417.58. Just last week it seemed that index will not nest above 2,400.00 mark but this week it continuously edging higher.

(image captured from www.bloomberg.com)

I just wonder why cryptocurrencies and stock indexes climbing upwards nowadays. I think we are in the very interesting transformation when conventional fiat money is getting weaker and as indexes are denominated in those money they as a consequence are getting stronger.
In my opinion it might be that we are witnesses of massive transformation to digital currencies or in the start of so called "death of cash" period.

Best regards,
rokasltu