The most recent surge in Bitcoin’s value is gaining considerable interest in the cryptocurrency community. Bitcoin’s price surged past $63,000, entering a bullish phase. As a result, many other cryptocurrencies have also increased in value. The crypto community is discussing the reasons behind Bitcoin’s significant price increase, with some suggesting various factors driving its growth. Additionally, Bitcoin has now surpassed the Russian Ruble to become the 14th largest currency. Bitcoin is frequently called an asset that is greatly influenced by emotions and beliefs. The introduction of Bitcoin spot ETFs by major market players such as BlackRock and VanECK caused a significant drop in the price of BTC. These ETFs combined traditional investment methods with a strong digital asset, creating a powerful industry presence. This advancement increased investors’ trust in the industry. By presenting Bitcoin in a reliable ETF format, it strengthened investor optimism, leading to substantial cash influx and the cryptocurrency reaching new highs. According to recent updates, BlackRock’s IBIT set a new record with an influx of $520 million on Tuesday. It represented the majority of funds coming in for the day, amounting to a total of $576.8 million. Edward Snowden claims that a government has purchased Bitcoin.