Cryptocurrency market capitalization hits $3.1 trillion, could it surpass France’s GDP?

The total market capitalization of the cryptocurrency market has reached an all-time high of $3.14 trillion, approaching a level that exceeds France's gross domestic product (GDP).
On the 11th (local time), the price of Bitcoin rose to $89,500 (approximately 13.77 million yen), and the total market capitalization of virtual currencies surged 7.8% in 24 hours.
If the cryptocurrency market were a country, it would be the eighth largest economy in the world by GDP, after the United States, China, Germany, Japan, India, the United Kingdom, and France.
According to the International Monetary Fund (IMF), Bitcoin's market capitalization has exceeded $1.77 trillion, making it larger than the GDP of Spain.
The cryptocurrency market capitalization hit $3 trillion on November 15, 2021, the highest since Bitcoin hit $69,000 during the 2020-2021 bull run.
The data comes shortly after hitting an all-time high from CoinGecko, which tracks 15,129 cryptocurrencies from 1,149 crypto exchanges.
According to data from Google Finance, the market capitalization of the cryptocurrency market has surpassed that of tech giant Microsoft, making it the largest cryptocurrency in the world.
The surge in Bitcoin prices has pushed the value of Bitcoin's market capitalization to $1.1 trillion on the 11th, putting it close to the two most valuable companies in the world: Nvidia and Apple.
It once again exceeded the market capitalization of silver.