Currently why bitcoin became so expensive

Shortly before today the price of bitcoin was very low. But recently I have grown very fast. Please tell me how it happened.

people bought coins…its quite simple

A lot of it has to do with institutional investors jumping into the market after Tesla declared that it invested $1.5B into BTC in 2020.

Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term. Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt.

Quoted directly from the TSLA SEC filing: Inline XBRL Viewer

Places like Grayscale and I heard about some sort of crypto ETF as well.

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