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Morning Bid: Making bitcoin great - and above $105,000

Bitcoin is back in the headlines today, having vaulted above $105,000 for the first time on record, after a nod from U.S. President-elect Donald Trump to make crypto great again. In an interview on Thursday with CNBC's Jim Cramer, Trump suggested he could go ahead with plans to create a strategic bitcoin reserve, much like the country's strategic oil reserve. "We're gonna do something great with crypto because we don't want China or anybody else - not just China but others are embracing it - and we want to be the head," Trump said.

Here's Why This Bitcoin Rally Is Different

There's no denying that Bitcoin (CRYPTO: BTC) is having a magnificent year in 2024. One key factor behind this year's rally was the launch of the new spot Bitcoin exchange-traded funds (ETFs) in January. The largest spot Bitcoin ETF, the iShares Bitcoin Trust (NASDAQ: IBIT), now has $53 billion in assets under management.