How did Bitcoin manage to reach its all-time high this year despite the pandemic?

FOMO - fear of missing out.

Most people miss a little detail that the quoted price is in ‘stable’ coins and assume it is actually fiat/paper currency.

However the promise of 1:1 peg is not a guarantee of 1:1 peg, as shown in this article -
The danger in the stable coins (thought experiments and the real price of Bitcoin)

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