Bitcoin's recent price surge is largely attributed to institutional investors pouring into the market. This influx of capital has increased liquidity, making it easier for others to buy and sell, further fueling the growth. As the global economy becomes increasingly digital, Bitcoin's potential as a store of value and hedge against inflation becomes more compelling.

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Institutional backing is indeed a strong indicator of Bitcoin's growing legitimacy and potential. The increased liquidity and ease of trading make it an attractive investment for both retail and institutional traders alike. As digital assets gain more traction, their role as a hedge against inflation and a store of value will likely continue to expand.