On Wednesday night in New York, the dreams of crypto¡¯s permabulls became reality: Bitcoin hit $100,000.

A monthlong rally has seen the largest and oldest cryptocurrency alternately approach ¡ª and then repeatedly shy away from ¡ª that most sought-after of round numbers.

Spurring the moves: the digital-asset industry¡¯s chest-thumping optimism that U.S. President-elect Donald Trump would halt the tough government scrutiny that prevailed during his predecessor¡¯s administration and instead pursue policies and regulators friendly to the digital-asset industry.