STORY: Bitcoin has finally hit $100,000.

The landmark was reached amid expectations of a friendlier U.S. regulatory approach to cryptocurrencies under U.S. President-elect Donald Trump.

Investors are betting that his administration will unleash a boom era for the asset class.

:: What's been happening with crypto?

It caps a year in which the cryptocurrency's price has more than doubled.

Bitcoin was also up about 45% in the two weeks since Trump was voted the next U.S. president.

A slew of pro-crypto lawmakers were also elected to Congress.

:: What has Trump said about crypto?

"Hello Bitcoiners. Thank you very much. Hello. It is good to be with you. It's good to be with you."

Trump embraced digital assets during his campaign.

That included promising to make the United States the "crypto capital of the planet".

He's also promised to accumulate a national stockpile of bitcoin.

Trump has said he will set up a crypto advisory council and he and his sons also announced a new crypto business, World Liberty Financial, in September.

:: How might the crypto industry change?

Under President Joe Biden, the Securities and Exchange Commission and the Treasury have cracked down on crypto companies for allegedly violating securities and anti-money laundering laws.

Bank regulators discouraged lenders from dabbling in crypto and Congress failed to pass legislation that would help promote mainstream adoption.

Under Trump, a softer regulatory stance is expected and crypto executives say the industry is now pushing for a range of measures.

That includes potential executive orders on access to banking services, as well as crypto-friendly picks in a range of roles including a new SEC chair.