Bitcoin breaks the $70,000 barrier in a remarkable surge, reaching as high as $71,837 with no apparent fundamental catalyst.

Crypto investors attribute the rally to SEC's approval of bitcoin-based ETFs and anticipation of the halving event, where bitcoin mining rewards are halved every four years.

In the past 52 weeks, bitcoin gained 246%, trailing behind Nvidia stock's impressive 281% surge.

Bitcoin's value lacks an underlying pool of profits or income, setting it apart from traditional assets.

Bill Ackman, CEO of Pershing Square, reflects on the energy-intensive nature of bitcoin mining, speculating on its impact on inflation and the dollar's decline, humorously considering buying some bitcoin himself.

The latest Bitcoin surge coincides with a lack of significant news, raising questions about the sustainability of its rapid ascent.

Investors closely watch key U.S. inflation data and the SEC's evolving stance on cryptocurrency-related products as potential market influencers.

As Bitcoin continues its rally, discussions about its environmental impact and energy consumption become more prominent, prompting influential figures like Bill Ackman to contemplate involvement in the cryptocurrency space.