This is part of the story, the other part would be central banks printing money nonstop, or in common parlance, "money printer go brrr".

Bitcoin can only exist in a post-2008-financial-crash world. Prior to that, there was no reason to consider anything other than the US Dollar. Bitcoin, however, is a solution to only one part of an overarching problem, or at least this is what I think: financial services need to be reigned back in if we have any hope as a species of surviving. Continued worldwide crashes caused by financiers engaging in riskier and riskier behavior in the name of enormous profits will eventually result in a war when one of the nations on the "losing end" decides they've had enough.