Bitcoin has topped the $US100,000 ($155,440) mark as a massive rally in the world's most popular cryptocurrency sparked by the election of Donald Trump rolls on.

The milestone came just hours after the president-elect signalled a lighter regulatory approach to the crypto industry when he said he intended to nominate cryptocurrency advocate Paul Atkins to be the next chair the Securities and Exchange Commission.

Bitcoin has soared to unprecedented heights since Trump won the election on November 5. The cryptocurrency has climbed dramatically from $US69,374 on election day and rose as high as $US103,713 on Wednesday (Thursday AEDT), according to CoinDesk. Just two years ago, bitcoin dropped below $US17,000 following the collapse of crypto exchange FTX.

READ MORE: Adrian Portelli hits back after unlawful lottery charges

How long bitcoin will stay above the $US100,000 mark is uncertain. It fell back to just under $US102,000 early Thursday.

As with everything in the volatile cryptoverse, the future is impossible to predict. And while some are bullish on future gains, other experts continue to warn of investment risks.

Here's what you need to know.

Back up. What is cryptocurrency again?

Cryptocurrency has been around for a while now. But, chances are, you've heard about it more and more over the last few years.

In basic terms, cryptocurrency is digital money. This kind of currency is designed to work through an online network without a central authority — meaning it's typically not backed by any government or banking institution — and transactions get recorded with technology called a blockchain.

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Bitcoin is the largest and oldest cryptocurrency, although other assets like ethereum, tether and dogecoin have also gained popularity over the years.

Some investors see cryptocurrency as a "digital alternative" to traditional money, but the large majority of daily financial transactions are still conducted using fiat currencies such as the dollar. Also, bitcoin can be very volatile, with its price reliant on larger market conditions.

Why is bitcoin soaring?

A lot of the recent action has to do with the outcome of the US presidential election.

Trump, who was once a crypto sceptic, has pledged to make the US "the crypto capital of the planet" and create a "strategic reserve" of bitcoin.

His campaign accepted donations in cryptocurrency and he courted fans at a bitcoin conference in July. He also launched World Liberty Financial, a new venture with family members to trade cryptocurrencies.

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Crypto industry players have welcomed Trump's victory, in hopes that he would be able to push through legislative and regulatory changes that they've long lobbied for — which, generally speaking, aim for an increased sense of legitimacy without too much red tape.

Trump made a move in that direction on Wednesday when he said he intends to nominate Paul Atkins to chair the Securities and Exchange Commission. Atkins was an SEC commissioner during the presidency of George W Bush. In the years since leaving the agency, Atkins has made the case against too much market regulation. He joined the Token Alliance, a cryptocurrency advocacy organisation, in 2017.

Under current chair Gary Gensler, the SEC has cracked down on the crypto industry, penalising a number of companies for violating securities laws. But he's also faced criticism from industry players in the process, like the chief legal officer of Robinhood, who described Gensler's approach toward crypto as "rigid" and "hostile". Gensler will step down when Trump takes office.

One crypto-friendly move the SEC did make under Gensler was the approval in January of spot bitcoin ETFs, or exchange trade funds, which allow investors to have a stake in bitcoin without directly buying it. The Spot ETFs were the dominant driver of bitcoin's price before the election — but, like much of the crypto's recent momentum, saw record inflows post-election.

What are the risks?

History shows you can lose money in crypto as quickly as you've made it. Long-term price behaviour relies on larger market conditions. Trading continues at all hours, every day.

At the start of the COVID-19 pandemic, bitcoin stood at just over $US5,000. Its price climbed to nearly $US69,000 by November 2021, during high demand for technology assets, but later crashed during an aggressive series of rate hikes by the Federal Reserve. And the late-2022 collapse of FTX significantly undermined confidence in crypto overall, with bitcoin falling below $US17,000.

Investors began returning in large numbers as inflation started to cool — and gains skyrocketed on the anticipation and then early success of spot ETFs. But experts still stress caution, especially for small-pocketed investors. And lighter regulation from the coming Trump administration could mean less guardrails.

"I would say, keep it simple. And don't take on more risk than you can afford to," said Adam Morgan McCarthy, a research analyst at Kaiko, adding that there isn't a "magic eight ball" to know for certain what comes next.

What about the climate impact?

Assets like bitcoin are produced through a process called "mining", which consumes a lot of energy. Operations relying on pollutive sources have drawn particular concern over the years.

Recent research published by the United Nations University and Earth's Future journal found that the carbon footprint of 2020-2021 bitcoin mining across 76 nations was equivalent to the emissions from burning 38 billion kilograms of coal or running 190 natural-gas-fired power plants. Coal satisfied the bulk of bitcoin's electricity demands (45 per cent), followed by natural gas (21 per cent) and hydropower (16 per cent).

Environmental impacts of bitcoin mining boil largely down to the energy source used. Industry analysts have maintained that clean energy has increased in use in recent years, coinciding with rising calls for climate protections

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Billionaire Adrian Portelli has been charged by South Australian authorities, accused of running an unlawful lottery.

Portelli is facing nine counts of conducting/assisting in the conduct of an unlawful lottery, and his company LMCT+ is facing 10 counts of the same charge.

The alleged offences are said to have occurred between January 29 last year and May 16 this year.

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Portelli responded tonight with a message directed at residents of South Australia alongside a photograph of him holding his child.

"It's okay SA we still love you," Portelli said in a post on the Instagram account for LMCT+.

"Your gambling commissioner won't allow you to win major life changing prizes so I've decided to run exclusive, DAILY $1000 cash giveaways to you guys instead.

"We still love you and I'll definitely be visiting to do more grocery voucher handouts," he added, with an emoji of two hands making a heart shape.

The promotions guru and property investor made waves earlier this year when he purchased all five homes on offer at The Block 2024 auction day.

LMCT+ charges monthly fees for shopping discounts, with membership including monthly draws.

Portelli made headlines earlier this week after giving away $150,000 worth of groceries in Sydney.

A massive crowd gathered before the giveaway began, with some people having lined up from 4am in Penrith and Fairfield West.

The billionaire bidder first made a name for himself as Block royalty after splashing $16.65 million on four Block homes in 2022 and 2023.

Portelli is due to face court on January 15.

The Herald understands the death was caused by a car accident.

A teenage boy who caused a crash that killed three women and injured a fourth while speeding in a stolen car has been sentenced to six years' detention.

Nurse Sheree Robertson, 52, Kelsie Davies, 17, and pastor Michale Chandler, 29 were killed after their vehicles collided after being struck by a stolen car driven by the youth.

A fourth woman, Kaylah Behrens, 23, was critically injured.

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Friends and family of the victims filled the Maroochydore District Court today, as District Judge Gary Long concluded a sentencing hearing for the youth that began in November.

Judge Long said the youth's offending resulted in catastrophic events and "horrendous consequences from your egregious behaviour".

The youth, now aged 14, of Bundaberg, appeared via video link from custody wearing a white long-sleeved formal shirt.

The youth previously pleaded guilty to dangerous operation of a vehicle causing three deaths and grievous bodily harm while speeding.

He also pleaded guilty to receiving stolen property, two counts of unlawful use of a motor vehicle, stealing and unlicensed driving.

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The youth with other juveniles stole a Mercedes-Benz from a Maryborough home on April 30, 2023 and drove at speeds between 180 and 200km/h.

Judge Long said the alleged co-offenders argued with the youth and exited the vehicle after saying they feared for their lives due to his driving.

The youth was seen crossing double lines and passing within a metre of other vehicles during 10 minutes of driving that covered about 12km.

The youth hit the back of the victims' Holden Astra sedan, forcing it into oncoming traffic.

Judge Long said a Mazda 2 vehicle, driven by Robertson returning home from a hospital shift and travelling in the opposite lane, had no chance to avoid the victims before a fatal collision.

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The youth was found at the scene curled up on the ground.

"You were crying and complaining that your foot was hurting. You said you were hurt everywhere but there were no observable injuries," Judge Long said.

The teen driver at a police station told a youth justice worker he had been "driving mad and angrily" and smacked into the back of car before hitting a tree.

"It was a dumb thing to do. I was angry about the argument with my friend," the youth said at the time.

Judge Long said Behrens suffered life-threatening, extensive and significant injuries requiring lengthy treatment and has been left with ongoing health impacts.

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Judge Long said no sentence could undo the "grave losses and impacts that have resulted from this offending".

The youth had been involved with child protection services since the age of eight and had been exposed to serious domestic violence and drug use.

Judge Long said he had to take this background into account, as well as the youth's cognitive impairment from a traumatic brain injury that affected his rational decision-making and impulse control.

The youth had convictions recorded and will be released after a little more than two years, after serving 60 per cent of the detention period and already spending 583 days in custody.

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A coronial inquest has begun into the death of a wheelchair-using amputee, who likely died while police and paramedics argued over whether they were able to force their way into his house.

In February 2020, David Low was alone at home when he called his NDIS carer for help. 

Concerned about his wellbeing, the carer called triple zero. 

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Paramedic Darryl Sparrow arrived at the Adelaide home at 4.20pm but didn't force his way inside despite the carer's insistence that Low was in there.

When police arrived, they were told it was up to the ambulance service to act.

The officers and the paramedic were then each involved in phone calls going higher and higher up the chain, allegedly arguing as the minutes went by.

The paramedic said he needed evidence Low was inside to activate his powers to break in, while police said they couldn't do it because it was a medical case.

READ MORE: Teen driver behind crash that killed three women sentenced to six years' detention

The coroner was today told that both were wrong.

It was not until 5.23pm that Low's daughter arrived with a key and discovered her father dead inside.

A medical expert is expected to testify that Low likely died while the confusion played out outside.

Whether the rights of entry policies need to be updated, or whether there needs to be better training for frontline services will be central to the inquest.

This article was produced with the assistance of 9ExPress.

Parts of Australia are likely to be hit by thunderstorms in the next few days, capping off a hot and humid start to the first week of summer.

Thunder and lightning could roll into north-east NSW and southern inland Queensland as soon as today, with meteorologists eyeing off severe thunderstorm warnings.

It is a different story in Victoria, where residents can expect a warm night with clear conditions.

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Temperatures will climb and conditions will become "hot and unsettled" tomorrow across the centre and the south-east of Australia.

Meteorologist Jonathan How said two main factors will influence the conditions, including a high pressure system in the Tasman Sea which will bring down the heat to the interior and a surface trough which will bring down humidity from the tropics.

"The heat and humidity will combine," How said.

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"By the afternoon we will see widespread rain, storms and showers across South Australia, Victoria and NSW.

"Broad areas could see severe thunderstorms."

Showers are expected for the east and the north, while windy conditions are likely across Western Australia as the next high pressure system moves in.

A few showers can be expected along the east coast of Queensland on Friday, mostly north of about Hervey Bay, while heavy falls in the Tropics including for Cairns.

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"We will also see thunderstorms for inland parts, although they won't be as widespread compared to the last few days," How said.

"Severe thunderstorms are possible for the southern Maranoa and Warrego.

"Heavy falls are possible about the Gulf Country."

Temperatures will be a little bit warmer than the last few days, with a partly cloudy and a top of 29 degrees expected for Brisbane tomorrow.

Meanwhile How said NSW will experience "hot and unsettled" conditions tomorrow.

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"It will be clear to start the morning, then into the afternoon showers and thunderstorms will become quite widespread across most of the state, except for the far north-east," he said.

How said Victoria will experience "hot, humid and unsettled" conditions tomorrow, with thunderstorms developing in the west into the afternoon.

A hot day is in store for Melbourne tomorrow, with the possibility of a late shower or storm.

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A warm day is in store for Tasmania with a few showers developing from the north into the afternoon.

How said there will be tropical conditions with heat and humidity starting to build and pour down from the north.

There will be cooler conditions on Western Australia's coast tomorrow, while heatwave conditions are likely for the inland Pilbara with temperatures climbing up into the mid-40s in some locations.

Across northern Australia, heatwave conditions continue across the western Kimberley tomorrow, while showers and storms are predicted for the Top End and up into Queensland.

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The man was rushed to Middlemore Hospital but succumbed to his gunshot injuries.

More mysterious black spheres have washed up in Sydney, prompting a local council to start a clean-up operation.

A member of the public called Sutherland Shire Council about ball-shaped debris at the eastern end of Sliver Beach at Kurnell in the city's south on Tuesday.

The NSW Environmental Protection Authority (NSW EPA) officers collected samples for analysis which will be tested and compared to others found in the last two months.

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"The debris varies in size, shape and colour with some rounded and golf ball size while larger ones are more irregular in shape," a NSW EPA spokesperson said in a statement.

"They range in colour from whitish or pale through green, grey and black.

"This is a much smaller event than the incident in Sydney's eastern suburbs in October, with fewer balls over a smaller area."

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Authorities have inspected nearby beaches and have not found any further debris.

The NSW EPA said Sydney Water officers found a small number of balls across Botany Bay at Dolls Point Beach, which were immediately cleaned up.

"The EPA has finalised testing on ball-shaped debris that washed up on beaches in Sydney's Eastern suburbs in October, confirming earlier results that indicate their origin is likely a source that releases mixed waste," a spokesperson said.

"Experts could not determine where the balls originated from as no source samples were available for comparison.

"The EPA is awaiting results of testing on debris balls which washed up in Kiama in November."

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He said he planned to harm children because his family was being taken advantage of.

Tasman Region reaffirms support for te reo after repeated vandalism of bilingual signs.