It is not unregulated. There have been several lawsuits brought on to the space already [2][3]. Exchanges that don't enforce AML/KYC have charges brought against them [4]. It is less regulated than the stock market, but it is by no means the wild west, at least in the US.
1: https://companiesmarketcap.com/assets-by-market-cap
2: https://www.sec.gov/news/press-release/2020-262
3: https://www.sec.gov/news/press-release/2020-338
4: https://news.bloomberglaw.com/bloomberg-law-analysis/analysi...
But its true its value quadrupled in the last 6 month.
I do hope though that the pressure on Bitcoin increases based on co2 consumption alone.
But also all governments and law things are slow. Like if start a lawsuit today, something like this can take years right?
Our society is quite busy with corona and while bitcoin uses a lot of energy already, the market size is still very small. Core reasons why i think we don't hear more about regulating bitcoins.
Popularity doesn't correlate to real value.