(Reuters) -Bitcoin rose above $100,000 for the first time on Thursday as the election of Republican Donald Trump as president of the United States spurred expectations that his administration will create a friendly regulatory environment for cryptocurrencies.

has more than doubled in value this year and is up about 45% in the four weeks since Trump’s sweeping election victory, which also saw a slew of pro-crypto lawmakers being elected to Congress.

It last traded at $100,027 as of 0240 GMT, up 2.2% on the previous session, after earlier rising as high as $100,277.

“We’re witnessing a paradigm shift. After four years of political purgatory, bitcoin and the entire digital asset ecosystem are on the brink of entering the financial…