Bitcoin reaches a milestone, surpassing $72,000, driven by an ETF craze that attracts $50 billion in unprecedented speed

Bitcoin continues its relentless surge towards a $1.5 trillion valuation, leaving in its wake the market cap of EV giant Tesla, which is only a third of its size.

Bitcoin has been on a tear, hitting a new record high of $72,800 after surpassing its previous peak of $69,000. This momentum is fueled by the launch of spot Bitcoin ETFs, which have attracted a staggering $50 billion in assets. BlackRock's iShares Bitcoin Trust alone has amassed $10 billion, with Grayscale contributing $30 billion from its trust conversion to an ETF.

With Bitcoin's valuation nearing the $1.5 trillion mark, it could soon reach a price of around $77,500, far outpacing Tesla's $550 billion market cap.