By Ankur BanerjeeSINGAPORE (Reuters) -Bitcoin soared to a record high above $81,000 on Monday (NASDAQ:MNDY) on expectations that cryptocurrencies will boom in a favourable regulatory environment following the election of Donald Trump as U.S. president and pro-crypto candidates to Congress.The world's biggest and best-known cryptocurrency, has now more than doubled from the year's low of $38,505 and was last at $81,572 having earlier touched a record high of $81,899.Trump embraced digital assets during his campaign, promising to make the United States the "crypto capital of the planet" and to accumulate a national stockpile of bitcoin.Other so-called 'Trump trades' - from U.S. stocks to shorting bonds have lost some steam since the election, but cryptocurrencies haven't paused for breath."Bitcoin's Trump-pump is alive and well... with Republicans on the cusp of taking the house to confirm a red wave in Congress, it seems the crypto crowd are betting on digital-currency deregulation," said Matt Simpson, senior market analyst at City Index, referring to Republican control of both houses.While Simpson warned Trump's near-term priorities are likely to lie elsewhere, crypto investors see an end to stepped-up scrutiny under U.S. Securities and Exchange Commission Chair Gary Gensler whom Trump has said he will fire.The cryptocurrency industry spent more than $119 million backing pro-crypto congressional candidates and has, by and large, succeeded.In Ohio, one of the crypto industry's biggest foes in Congress - Senate Banking Committee Chair Sherrod Brown was ousted, while pro-crypto candidates from both the Democratic and Republican parties won in Michigan, West Virgina, Indiana, Alabama and North Carolina.investing.com