Nvidia has been a central company in the recent cryptocurrency craze as it manufactures high-end graphics cards which are used to mine cryptocurrency.
In a recent interview with CNBC, Jensen Huang, CEO of Nvidia, was questioned regarding the rise of the Nvidia stock in the latest year and a potential correlation between that and the cryptocurrency mining craze. To this, he responded that the underlying force driving the stock up, was the evergrowing technological advancements Nvidia provides and that cryptocurrency mining just gave it that extra bit of juice. Huang had this to say regarding the future of cryptocurrencies.
I think over the long term, cryptocurrency will still be here
Throughout the last couple of months, many major electronics stores have had all their graphics cards wiped off the shelves by eager crypto miners. This has upset several gaming-related outlets and companies as a growing demand causes the price of graphics cards to skyrocket.
Watch the entire interview below