"Bit propagation rate" is a bit misleading here as it jumbles up the different aspects.
When the data rate is increased, a transmitting interface can pump out the data faster and a data packet of a given size finishes outgoing transmission earlier.
The electromagnetic wave carrying the information travels (propagates) always at the same speed, depending on the medium but independent from the data rate. For most media (copper wire, fiber), this is roughly 2/3 of the speed of light c0. A medium's _velocity factor_ tells you the fraction of c0 that is achieved. Of course, wireless communication through air is almost at 1.0; in a vacuum it's exactly 1.0.
The effective total delay is the transmission delay (also _serialization delay_ ) plus the propagation delay. The beginning of transmission overlaps with propagation, so it only counts once.