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Bitcoin super spikes to an all-time high

Bitcoin spiked more than $120 in a matter of minutes.

Bitcoin exploded to an all-time high on Friday morning. The cryptocurrency surged more than $120 to a record high of $1,327 a coin shortly before 8:30 a.m. ET. While bitcoin has pulled back from its record peak, it remains firmly bid, up 8.3%, or $99, at $1,291.

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Friday's gains come ahead of the highly anticipated US Securities and Exchange Commission ruling on whether or not it will approve three proposed bitcoin-focused exchange-traded funds

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