I disagree. It is quite the opposite. The reason bitcoin has been going up is the fiat currency losing its value.
Fear of fiat currency failing is the reason to invest in bitcoin. There is new supply of fiat currency added all the time, which devalues fiat currency. It is a hidden way of taxation.
Bitcoin doesn't take its value from USD. Its value comes from what it offers: secure trusted way of storing value.
Look at countrie with super high inflations, those who chose to store their assets in bitcoin were able to preserve the value of their assest and then some.
I disagree respectfully.