As simple as YES. Bitcoin is an hedge against inflation and as a matter of fact, investors aren't just buying it based on rumours. And to do justice to this, it holds it potential value on it limited supplies of the 21 million invented bitcoins unlike the fiats that it supplies is limitless causing it purchase power devaluated while the purchase power of bitcoin keep gaining more strengths over the period it has hold suitable values breaking out to Ath's.
Investors has choosed to hold their assets on bitcoin on a strict factor of their assets safety in case of crisis and disasters which of course the COVID-19 had thought them all lessons when the fiats and the stocks market was negatively affected while bitcoin proffered that service of digital gold to store values.