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Bitcoin (BTC) has just reached a new all-time high, trading above $69,200 and surpassing the previous record set in November 2021 of $69,146. 

The cryptocurrency is currently valued at more than $1.3 trillion, according to CoinGecko data. 

Why Bitcoin might surge even higher 

Anthony Pompliano, founder of Pamp Investments, singed out several key factors contributing to Bitcoin's bullish momentum during a CNBC interview.  

Firstly, the recent approval of Bitcoin ETFs, notably the one managed by BlackRock with $11 billion in assets, which added $1 billion in just the last day, signifies a growing mainstream acceptance and massive inflows into the cryptocurrency market. 

Furthermore, historical patterns suggest that breaking past an all-time high could lead to a rapid doubling in price, as seen in previous cycles. 

Pompliano also singled out the upcoming Bitcoin halving event, which will reduce the new supply of Bitcoin, as a critical factor likely to push prices higher at a pace faster than many anticipate.