The value of Bitcoin has not been this high since early 2018. Nicholas Pelecanos, an expert cited in the article and the head of the NEM crypto trading exchange, said the prospect of more stimulus, which both sides seem to want, is good for both equities and Bitcoin. Other explanations for the jump include investors hedging against the devaluation of fiat currency due to COVID-19 stimulus and wider-spread acceptance from companies like PayPal.