New York (CNN Business) Bitcoin is on a tear: The price of one bitcoin is now trading just above $11,500, the highest level in about a year. Bitcoin has surged more than 60% in 2020 and is up more than 180% from its mid-March lows of about $4,000. Experts say much of it is due to the weakness in the US dollar. "It's a flight to safety," said James Putra, head of product strategy for TradeStation Crypto. Investors may think that bitcoin is a good hedge against a falling dollar.

Source: CNN August 11, 2020 18:22 UTC