It will not cause a financial crisis. After all, the size of Bitcoin is very small, and it is a small investment product, which will not affect the economy and finance, because Bitcoin is insignificant for the economy and finance. At present, there are also some companies investing in Bitcoin. When Bitcoin plummets, there will be some losses for the company, but it will not have any major impact on the economy
All cryptos worth $2+ trillion, so it is not really small. Nevertheless, crypto will not lead to a financial crisis. There are several reasons for this. Institutional investors and banks are only investing in cryptos with a very small portion, if any. Moreover, compared to other assets, relatively few cryptos are bought with loans.
If I see a financial crisis, it will be caused by other asset classes, for example real estate, which is massively overvalued almost everywhere in the world. A good example is China, but also Australia, the US and many developed countries in Europe.