The Crypto Capitalization Is Nearing The GDP Of France... How Far Will It Go?

The cryptocurrency market capitalization reaches unprecedented levels at $3.1 trillion, now nearing the GDP of France. This meteoric rise, driven by Bitcoin nearing $90,000, is reshaping the contours of global finance and challenging traditional economic hierarchies.

The cryptocurrency market capitalization is approaching the French GDP

Yesterday, November 11, a staggering increase of 7% in 24 hours shook the crypto market, mainly fueled by the exceptional performance of Bitcoin. The leading cryptocurrency, which alone represents a capitalization of $1.77 trillion, now surpasses the GDP of countries like Spain, according to the latest IMF data.

This meteoric progression recalls the previous peak of November 2021, when the market briefly touched $3 trillion. However, the current context appears more solid, supported by growing institutional adoption and the recent approval of Bitcoin ETFs in the United States.

The crypto market is now positioning itself ahead of tech giants like Microsoft in terms of capitalization, now closing in on Nvidia and Apple, the two behemoths of global tech.

Perspectives and implications for the global economy

This spectacular ascent positions the crypto sector as a major economic force. If the market were considered a country, it would rank eighth in the world in terms of GDP, just behind major economic powers like the United States, China, and Japan.

Analysts remain divided on short-term developments. Markus Thielen, founder of 10x Research, anticipates continued dominance of Bitcoin with a target of $100,000 by the end of the year. In contrast, Rachael Lucas from BTC Markets forecasts a possible redistribution of power towards altcoins, which could dilute Bitcoin’s dominance.

This dynamic is part of a broader context of transformation in the global financial landscape, where cryptocurrencies are gradually establishing themselves as an essential asset class.

The imminent surpassing of the French GDP by crypto capitalization would mark a significant symbolic milestone, illustrating the growing maturity of this still young industry, but now impossible to ignore.