Witnessing the milestone in cryptocurrency! The total market value has reached 3.2 trillion U.S. dollars, surpassing Microsoft, setting a new historical record.

The global cryptocurrency market, including Bitcoin, Ethereum, and Solana, has surpassed the epic milestone of $3 trillion in cumulative market capitalization, reaching a historic high total market value of $3.2 trillion in the early stages of trading today. The election of Donald Trump as President of the United States, after a four-year hiatus, is set to return to the White House, prompting cryptocurrency enthusiasts to collectively bet on the expectation of more friendly and lenient regulations under the new Trump-led U.S. government, which may bring new prosperity to various sectors of this risky asset class. According to cryptocurrency data analysis and aggregation platform CoinGecko, in the early stages of trading in the Asian session on November 14, the overall market value of the cryptocurrency market had reached a historic high of $3.2 trillion. Since Trump's victory, the bullish trend in the cryptocurrency market has continued, with the largest market cap cryptocurrency Bitcoin breaking through the important $90,000 mark on Wednesday, and continuing to rise on Thursday, reaching a high of $93,480, a new all-time high. In comparison to the total market value of $3.2 trillion already reached, the cryptocurrency market capitalization has surpassed one of the seven major U.S. tech giants, Microsoft Corporation (MSFT.US). As of the close of the U.S. stock market on Wednesday, the latest market value of Microsoft Corporation was approximately $3.16 trillion. With a total market value of $3.2 trillion, in the global stock market rankings, it is only surpassed by two "super giants," NVIDIA Corporation (NVDA.US) and Apple Inc. (AAPL.US), meaning that if the cryptocurrency market were considered a stock, its market value would be second only to NVIDIA Corporation and Apple Inc., far ahead of companies such as Amazon.com, Inc., Alphabet Inc. Class C, Meta, and Saudi Aramco. Some market participants even call out that Bitcoin and other cryptocurrencies have an investment impact on a global scale that is on par with the hottest investment theme, "artificial intelligence," as the market value of the cryptocurrency market surpasses Microsoft Corporation - one of the strongest leaders in the global artificial intelligence field. With its status as a major shareholder in OpenAI, Microsoft Corporation launched the Azure OpenAI Studio cloud service last year based on the ChatGPT core technology, which is essentially a new and enhanced version of Azure's AI, and fully integrated OpenAI's GPT series large models into its flagship software products like Office, achieving simultaneous growth in performance and stock price. Microsoft Corporation once sat on the throne as the "world's highest market cap company" for a long time. This frenzy in the cryptocurrency market even surpasses the exciting days of 2021, when the global macroeconomic stimulus measures to combat the COVID-19 pandemic stimulated massive speculative investments worldwide. This surge in cryptocurrency market marks a remarkable recovery scene after months of stagnation in cryptocurrency prices and trading volumes with a dim prospect. Can the "wild Bitcoin" continue its "crazy surge"? Bitcoin continues to dominate the cryptocurrency market, with a milestone market capitalization of $3.2 trillion enough to be recorded in financial market history, coinciding with Bitcoin's trading price soaring to a record $93,480. Bitcoin's market value currently hovers around $1.8 trillion, making it the largest cryptocurrency by market capitalization. Last Thursday, Wall Street investment firm Ned Davis Research upgraded Bitcoin to a "buy-only trading" status, stating that Bitcoin is expected to surge above $120,000 by next spring. The Ned Davis Research strategy team said, "Due to the optimistic sentiment surrounding Trump's victory, cryptocurrencies are exploding, and we believe that there is almost no resistance on the path of rising Bitcoin prices at least until Trump takes office." Geoff Kendrick, global head of digital asset research at Standard Chartered, believes that after Trump wins the U.S. presidential election, the price of Bitcoin will reach $125,000 by the end of this year and $200,000 by the end of 2025. Jan Van Eck, CEO of leading asset management company VanEck, expects that the price of Bitcoin may eventually reach $300,000. "In general, the trend of this market is that Bitcoin will break through first, and then other cryptocurrencies will follow suit," said Matthew Dibb, Chief Investment Officer of cryptocurrency asset management company Astronaut Capital. "Therefore, capital will gradually rotate... and we can expect a significant increase in total market value." With Trump's announcement of winning the U.S. presidency and several cryptocurrency-friendly lawmakers entering the U.S. Congress, the considerable uncertainty surrounding U.S. cryptocurrency regulation expectations has evidently been eliminated, sparking a wave of excitement. During his campaign, Trump fully embraced digital assets, stating that he wants to make the U.S. the "capital of cryptocurrencies" and the "superpower of Bitcoin," making Bitcoin, Ethereum, Solana, and other popular cryptocurrencies core beneficiaries of the so-called "Trump trade." In terms of trading prices, the price of Bitcoin has doubled in the cryptocurrency market this year, rising by approximately 30% since the U.S. election on November 5, reaching $90,000. Smaller cryptocurrencies like Ethereum have also seen significant increases since the election vote, with Ethereum rising by about 33% to $3,220 since then. The "meme cryptocurrency" Dogecoin, a cryptocurrency with extreme price volatility promoted by Elon Musk, the richest person in the world, CEO of Tesla, Inc., and a key ally of Trump, has also risen by 140%. Market participants are even suggesting that the investment impact of cryptocurrencies such as Bitcoin on a global scale is on par with the hottest investment theme, "artificial intelligence," indeed surpassing one of the world's strongest leaders in the field of artificial intelligence, Microsoft Corporation. Thanks to the Azure OpenAI Studio cloud service with GPT core technology, which Microsoft Corporation introduced last year as a major shareholder of OpenAI, and the full integration of OpenAI's GPT series large models into its flagship software products such as Office. This allowed Microsoft Corporation to achieve simultaneous growth in performance and stock price and long remained the "world's highest market cap company." Even the market frenzy in cryptocurrency exceeds that of the exciting days of 2021, when the unprecedented global investment was fueled by vast macroeconomic stimulus measures to combat the COVID-19 pandemic. This cryptocurrency boom also marks a massive recovery scene after months of stagnation in cryptocurrency prices and trading volumes.Investors have expressed that cryptocurrency exchange-traded funds (such as Bitcoin ETFs in the US stock market) are also being heavily purchased, which may indicate that Wall Street financial institutions are buying in large quantities. Financial institutions usually tend to avoid directly holding volatile assets like cryptocurrencies."Bitcoin enthusiasts are known for their bold predictions worldwide, but reaching $100,000 by the end of the year seems feasible." Said Carl Szantyr, founder and managing partner of Blockstone Capital. DEJA VU This explosive surge in Bitcoin prices is the latest scene in the rollercoaster ride of the cryptocurrency market. For enthusiasts who have witnessed the "crazy bull market" of cryptocurrencies, the scene of Bitcoin breaking the $90,000 mark and setting a new all-time high is reminiscent, as the wildness during the COVID-19 pandemic and Bitcoin halving bull market period has shocked them multiple times before. Last year, during the "cryptocurrency winter" chapter after the collapse of the cryptocurrency empire FTX and other cryptocurrency projects, the price of Bitcoin once fell below $20,000. Certainly, compared to traditional financial assets such as stocks, bonds, and gold, the actual market value of cryptocurrency seems comparatively small. At the current price, the value of the 20.9 million tons of gold mined in history, announced by the World Gold Council, is nearly $19 trillion. The total market value of all S&P 500 Index component companies is a staggering $50.6 trillion. However, the total market value of the cryptocurrency market, already at $3.2 trillion, has surpassed the total market value of the American tech giant Microsoft Corporation, ranking second only to the two American tech "super giants" - NVIDIA Corporation and Apple Inc. in the global stock market value ranking. Some overlooked corners of the entire cryptocurrency ecosystem show no signs of recovery, while others display a degree of caution. According to data from NonFungible.com tracking the Ethereum and Ronin blockchains, the average sale price of NFTs has remained around $2,000 since May, and although it has recently risen following cryptocurrencies like Bitcoin, it has only increased to around $2,700. In Singapore, DBS Bank, which operates a digital asset exchange, stated that although trading volumes have surged and more than one-third of last year's total trading volume was executed in the first ten days of November, investors have yet to delve into more niche products in the cryptocurrency market. "We have not seen customers transferring assets to more diverse platforms or decentralized exchanges." said David Hui, Chief Business Officer of DBS Digital Exchange. Nevertheless, industry insiders generally believe that the renewed attention will bring new momentum to the cryptocurrency ecosystem. "People are becoming increasingly interested in DeFi decentralized trading and other blockchain-related topics, and are becoming more willing to learn about them." said Danny Chong, co-founder of decentralized asset tracking platform Tranchess. "If the overall market value of cryptocurrencies continues to grow for a longer period, it may attract investors to have a stronger interest in future and existing cryptocurrency themes, including the tokenization of real-world assets and innovative blockchain-based payment services." he said.