Hyperinflation is anything above 50%, we are not there yet in the US and hopefully never will but 20–25% is a lot and people need to find a safe haven in order to protect their money.
Gold has been the traditional vehicle but now there is bitcoin which has superior qualities.
Anybody with cash will look for any asset that appreciates faster than inflation. Gold, real estate, bitcoin, and commodities. Those who keep cash will have their wealth dwindle into nothing.
The tether fud has been used and abused extensively, yet it has nothing to do with bitcoin, even in the unlikely event of tether going to zero it will not affect bitcoin.
Elon Musk, Michael Saylor, Grayscale, ark invest, and many others have invested billions into bitcoin, they didn´t pay with tether, and they will not likely sell anytime soon. Bitcoin is appreciating because the world has realized that fiat money is garbage and they can´t spend it fast enough.
Fiat money is a scam, is soft, and is infinite. Bitcoin is the hardest money ever created, with a limited supply and an immutable monetary policy.