This paper's goal is to show how the price of Bitcoin affected the SP500 and CAC40 stock market indices. It will do this by using the symmetric autoregressive distributed lag (ARDL) and the asymmetric nonlinear autoregressive distributed lag (NARDL) models to find the cryptocurrency's mixed effect on global stock market indices. We used two control indices, the gold price, and the crude oil price, from October 2010 to April 2023. Based on stock market indices, the ARDL method suggests that Bitcoin holdings have grown steadily since the COVID-19 crisis. But the NARDL data shows that when Bitcoin goes down, both stock market indices become more volatile. Governments must prioritize monetary digitization by fostering the widespread adoption of digital currencies and transactions, like cryptocurrencies, in light of recent events like the COVID-19 pandemic and the conflict between Russia and Ukraine.