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Bitcoin passed $20,000 for the first time just 11 days ago. Now it's knocking at $30,000's door. Its rapid rise has been remarkable -- or insane, depending on your appetite for risk. But there's some logic to the run-up: Investors are pouring money into bitcoin and other cryptocurrencies during the Covid-19 pandemic as the Federal Reserve sent interest rates near zero (and expects to keep them there for several more years), severely weakening the US dollar.

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