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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.

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.

This year has been nothing short of monumental for the cryptocurrency industry. Bitcoin began the year hovering around $40,000, only to surge past $100,000 in December. The industry shook off the lingering shadows of a prolonged crypto winter, celebrated the landmark approval of a Bitcoin ETF, and found itself increasingly entrenched in the political conversation. In many ways, 2024 marked a turning point, solidifying crypto’s role as a key player in both financial markets and public discourse.

Bitcoin climbed as high as $107,000 on Monday as the Trump trade soared to new heights.

The spike in activity likely stems from "cash-secured" selling of the options by traders who missed the rally in the ETF.

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Bitcoin (CRYPTO: BTC) is having its moment, and for good reason. The digital asset has soared 85% in the past three months (as of Dec. 11), and this year, it's up an astonishing 140%. It's crazy to think that Bitcoin went from just an idea 16 years ago to an asset worth just over $1.9 trillion today.

Here is a 2-minute breakdown of everything important that happened in crypto today.

Bitcoin has surged to a new record of more than $106,000 (£83,700) amid hopes that Donald Trump will create a US national fund for the currency.

Sheila Warren, CEO of the Crypto Council for Innovation (CCI), has announced she will step down from her role in January 2025.