*

Cryptocurrencies rally on de-regulation expectations

*

Bitcoin hits record high over $81,000

*

Ether, dogecoin surge

(Recasts and writes through)

By Ankur Banerjee

SINGAPORE, Nov 11 (Reuters) - Bitcoin soared to a record

high above $81,000 on Monday 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.

Trump also unveiled a new crypto business, World Liberty

Financial in September, and although details about the business

have been scarce, investors have taken his personal interest in

the sector as a friendly signal.

Billionaire Elon Musk, a major Trump ally, is also a

proponent of cryptocurrencies.

Eric Trump, one of the president-elect's sons and executive

vice president of his private conglomerate, The Trump

Organization, is a keynote speaker at a bitcoin conference in

Abu Dhabi next month, according to the event organisers.

Gains in cryptocurrencies have been broad. Ether rose

above $3,200 for the first time in over three months on Monday

and was last fetching $3,192. Dogecoin, an

alternative cryptocurrency that began as a satirical critique of

the 2013 crypto frenzy, was at a three-year high.