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

high of over $81,000 on Monday as Donald Trump's victory in the

U.S. presidential election along with pro-crypto candidates

being voted to the Congress spurred expectations of a

light-handed regulatory environment.

Bitcoin, the world's biggest and best-known cryptocurrency,

has more than doubled from the year's low of $38,505 it hit on

Jan. 23. It was last at $80,829 in Asian hours having

touched a record high $81,464 earlier in the session.

Smaller cryptocurrency Ether rose above $3,200 for

the first time in over three months. It was last fetching

$3,192.

The cryptocurrency industry spent more than $119 million

backing pro-crypto U.S. congressional candidates in the hope of

getting crypto-friendly legislation passed to promote digital

assets.

The effort succeeded last week, with many of the industry's

chosen candidates winning their races, potentially ushering in a

Congress poised to champion crypto.

"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.

"But this looks like blind optimism on their part, given

Trump's attention seems to be on deportation, pardons and the

general deconstruction of Biden-era policies."