Bitcoin's volatility gauge hit 96 this year. The stock market's version of that same number rarely gets past the 60s.

That gap changes how much sense the usual advice makes. A 5% allocation that can swing 20% in a week behaves nothing like a 5% allocation in a stock index fund, and the two asset classes still sit under completely different rules for custody, protection, and settlement.
We broke down the real differences on regulation, volatility, and who actually controls the asset once you own it side by side: