To "measure" value we need to know the purchase power. People have no feeling for the purchase power of a highly volatile asset. hence most people convert the v

To "measure" value we need to know the purchase power. People have no feeling for the purchase power of a highly volatile asset. hence most people convert the value to their local currency. We do this with gold/stocks/crypto. there is hardly any "deeper" meaning in that. its just how our brain can grasp what could be bought with X amount of asset Y. If the stable currency would loos this property we would use another. Like if the USD would become highly volatile or if there would be hyperinflation people would no longer convert to USD. there are plenty places where the local currency isn't stable and people convert asset value to something else usually a foreign currency like the USD or EUR.