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Bitcoin (BTC-USD) rose after Republican Sen. Cynthia Lummis said in a post on X that she will chair the Senate Banking Subcommittee on digital assets.

The token moved up to about $105,000 at around 10:50 a.m. ET.

Earlier this week, Lummis said she spoke with Eric Trump about the possibility of creating a strategic bitcoin reserve at the inaugural lunch on Monday.

Late last year, she introduced a proposal that would give the Federal Reserve the right to own the cryptocurrency.