Crypto Market Reaches $3.1 Trillion, Rivals France’s GDP
The cryptocurrency market surged to $3.1 trillion, nearly equaling France’s GDP, positioning it as the eighth-largest “economy” globally. On November 12, Bitcoin led the rise, increasing nearly 25% over the week. If cryptocurrencies were considered a national economy, they would rank between France ($3.17 trillion) and Italy ($2.38 trillion), based on IMF data. The only larger economies are the United States ($29.17 trillion), China ($18.27 trillion), and Germany ($4.71 trillion).
Bitcoin’s “digital gold” status is highlighted by its role in this growth, with the crypto market’s value closing in on major industries and assets. Physical gold’s market cap, at $17.5 trillion, remains about six times larger than the total crypto market. In contrast, the crypto market is almost double the size of silver’s global market cap of $1.71 trillion.
The cryptocurrency market cap has already surpassed Microsoft’s valuation and is approaching those of Nvidia and Apple. With Bitcoin nearing $90,000, analysts are divided on its future dominance as competition with altcoins intensifies. However, ongoing market trends suggest sustained growth and increasing rivalry within the crypto ecosystem.
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