Markets.com Logo
euEnglish
LoginSign Up

Why Bitcoin Is Gaining More Traction Than Nvidia?

Sep 29, 2024
4 min read
Table of Contents
  • 1. Billionaire investors are selling off their shares of Nvidia stock
  • 2. Bitcoin has an even higher upside than Nvidia
  • 3. Bitcoin as a stand-alone asset class

bitcoin-money-width-1200-format-jpeg.jpg

Bitcoin (BTC) buying is on the rise, as evidenced by the $65,388 (BTC/USD) value of the coin, up 3.13% over the last week. Bitcoin ETFs in particular have been very popular among billionaire investors.
 


Billionaire investors are selling off their shares of Nvidia stock


In May, Millennium Management LLC invested over $2 billion in Bitcoin ETFs, joining other prominent investors such as D.E. Shaw and Jane Street Group, who sought to capitalize on the Bitcoin ETF market shortly after these products were introduced.

At the same time, several billionaire investors have been selling off their shares of Nvidia stock. During the second quarter of 2024, notable figures like George Soros, David Tepper, Stanley Druckenmiller, and others began reducing their positions in Nvidia.
 

nvidia-stock-width-1200-format-jpeg.jpg


Even though Nvidia's AI graphics processing units (GPUs) are dominating in AI-accelerated data centers, this hasn't halted a nine-month exodus by billionaire asset managers from the company's stock. Based on form 13F filings with the Securities and Exchange Commission for the June-ended quarter, seven billionaires were sellers, including (total shares sold in parenthesis):
1)       Ken Griffin of Citadel (9,282,018 shares)
2)       David Tepper of Appaloosa Management (3,730,000)
3)       Stanley Druckenmiller of Duquesne Family Office (1,545,370)
4)       Cliff Asness of AQR Capital Management (1,360,215)
5)       Israel Englander of Millennium Management (676,242)
6)       Steven Cohen of Point72 Asset Management (409,042)
7)       Philippe Laffont of Coatue Management (96,963)

 

Bitcoin has an even higher upside than Nvidia


Bitcoin is a cryptocurrency making significant strides, with major developments surrounding it. The launch of Bitcoin ETFs earlier this year was a game-changer, potentially providing a simpler entry point for investors who are hesitant to engage directly with traditional cryptocurrency products. These ETFs are expected to remain a major focus for investors moving forward.

Bitcoin’s halving event earlier this year is anticipated to drive up its value, as mining new coins becomes more difficult. Further boosting the conversation around Bitcoin is the increasing attention it’s receiving from both Republican and Democratic presidential candidates. Republican candidate Donald Trump has outlined extensive plans regarding cryptocurrency and Bitcoin, and if he wins the election, it could potentially create a favorable environment for the crypto market.

While Nvidia has experienced tremendous growth over the past two years, some analysts believe its upside may be limited compared to Bitcoin. Many economic experts agree that Bitcoin has greater growth potential, though the key question remains whether it can achieve that potential in the near future. 
 


Bitcoin as a stand-alone asset class


A key advantage for Bitcoin is the increasing recognition on Wall Street that cryptocurrency represents its own distinct asset class with a unique risk-reward profile. This shift holds significant implications for portfolio diversification. Just as experienced investors allocate portions of their portfolios to traditional asset classes like stocks and bonds, there is now a growing belief that even a small allocation to crypto, including Bitcoin, could potentially be  necessary for a well-rounded investment strategy.

Both Bitcoin and Nvidia offer high-risk and potential  investment opportunities. 

The most common tool for measuring risk-adjusted returns is the Sharpe Ratio, which factors in the volatility of an asset.



When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss. 


Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients. 
 


Risk Warning: this article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform.When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients. 

Frances Wang
Written by
Frances Wang
SHARE

Markets

  • Palladium - Cash

    chartpng

    --

    0.81%
  • EUR/USD

    chartpng

    --

    -0.85%
  • Cotton

    chartpng

    --

    0.07%
  • AUD/USD

    chartpng

    --

    -0.64%
  • Santander

    chartpng

    --

    1.39%
  • Apple.svg

    Apple

    chartpng

    --

    -0.02%
  • easyJet

    chartpng

    --

    0.39%
  • VIXX

    chartpng

    --

    0.35%
  • Silver

    chartpng

    --

    -0.10%
Tags DirectoryView all
Table of Contents
  • 1. Billionaire investors are selling off their shares of Nvidia stock
  • 2. Bitcoin has an even higher upside than Nvidia
  • 3. Bitcoin as a stand-alone asset class

Related Articles

How to trade Top Gaining Stock CFDs: FIX Stock, LYEL Stock, GNTX Stock

How to trade Top Gaining Stock CFDs: Trading Contracts for Difference (CFDs) offers an efficient way to speculate on the price movements of stocks without owning the underlying assets.

Ghko B|about 19 hours ago

Tesla Stock Is Tumbling: How to Trade TSLA Stock CFDs with markets.com?

Tesla Stock Is Tumbling: Tesla Inc. (TSLA) has long been a focal point in the stock market, known for its innovative electric vehicles and visionary leadership.

Ghko B|about 19 hours ago

Stock CFDs to Watch: SMCI Stock CFD, TSLA Stock CFD, GME Stock CFD

Stock CFDs to Watch: in the dynamic world of trading, Contracts for Difference (CFDs) provide traders with the flexibility to speculate on the price movements of various stocks without owning the underlying assets.

Frances Wang|about 19 hours ago
Markets.com Logo
google playapp storeweb tradertradingView

Contact Us

support@markets.com+12845680155

Markets

  • Forex
  • Shares
  • Commodities
  • Indices
  • Crypto
  • ETFs
  • Bonds

Trading

  • Trading Tools
  • Platform
  • Web Platform
  • App
  • TradingView
  • MT4
  • MT5
  • CFD Trading
  • CFD Asset List
  • Trading Info
  • Trading Conditions
  • Trading Hours
  • Trading Calculators
  • Economic Calendar

Learn

  • News
  • Trading Basics
  • Glossary
  • Webinars
  • Traders' Clinic
  • Education Centre

About

  • Why markets.com
  • Global Offering
  • Our Group
  • Careers
  • FAQs
  • Legal Pack
  • Safety Online
  • Complaints
  • Contact Support
  • Help Centre
  • Sitemap
  • Cookie Disclosure
  • Awards and Media

Promo

  • Gold Festival
  • Crypto Trading
  • marketsClub
  • Welcome Bonus
  • Loyal Bonus
  • Referral Bonus

Partnership

  • Affiliation
  • IB

Follow us on

  • Facebook
  • Instagram
  • Twitter
  • Youtube
  • Linkedin
  • Threads
  • Tiktok

Listed on

  • 2023 Best Trading Platform Middle East - International Business Magazine
  • 2023 Best Trading Conditions Broker - Forexing.com
  • 2023 Most Trusted Forex Broker - Forexing.com
  • 2023 Most Transparent Broker - AllForexBonus.com
  • 2024 Best Broker for Beginners, United Kingdom - Global Brands Magazine
  • 2024 Best MT4 & MT5 Trading Platform Europe - Brands Review Magazine
  • 2024 Top Research and Education Resources Asia - Global Business and Finance Magazine
  • 2024 Leading CFD Broker Africa - Brands Review Magazine
  • 2024 Best Broker For Beginners LATAM - Global Business and Finance Magazine
  • 2024 Best Mobile Trading App MENA - Brands Review Magazine
  • 2024 Best Outstanding Value Brokerage MENA - Global Business and Finance Magazine
  • 2024 Best Broker for Customer Service MENA - Global Business and Finance Magazine
LegalLegal PackCookie DisclosureSafety Online

Payment
Methods

mastercardvisanetellerskrillwire transferzotapay
The www.markets.com/za/ site is operated by Markets South Africa (Pty) Ltd which is a regulated by the FSCA under license no. 46860 and licensed to operate as an Over The Counter Derivatives Provider (ODP) in terms of the Financial Markets Act no.19 of 2012. Markets South Africa (Pty) Ltd is located at BOUNDARY PLACE 18 RIVONIA ROAD, ILLOVO SANDTON, JOHANNESBURG, GAUTENG, 2196, South Africa. 

High Risk Investment Warning: Trading Foreign Exchange (Forex) and Contracts For Difference (CFDs) is highly speculative, carries a high level of risk and is not appropriate for every investor. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin. Please read the full  Risk Disclosure Statement which gives you a more detailed explanation of the risks involved.

For privacy and data protection related complaints please contact us at privacy@markets.com. Please read our PRIVACY POLICY STATEMENT for more information on handling of personal data.

Markets.com operates through the following subsidiaries:

Safecap Investments Limited, which is regulated by the Cyprus Securities and Exchange Commission (“CySEC”) under license no. 092/08. Safecap is incorporated in the Republic of Cyprus under company number ΗΕ186196.

Markets International Limited is registered  in the Saint Vincent and The Grenadines (“SVG”) under the revised Laws of Saint Vincent and The Grenadines 2009, with registration number  27030 BC 2023.

Close
Close

set cookie

set cookie

We use cookies to do things like offer live chat support and show you content we think you’ll be interested in. If you’re happy with the use of cookies by markets.com, click accept.