William McCormick | Source | Communications Lead at OKCoin

The institutions are investing in bitcoin as a hedge against the dollar and to put their cash reserves to better use. Since the covid-19 lockdowns started in mid-March the value of the dollar has been steadily dropping -- moving from 103 to below 90 now on the DXY which tracks the value of the dollar versus a basket of currencies...Once (Bitcoin) surpassed its all-time high of $20k on Dec 15, retail investors that were skeptical since the crash became more interested...