Anthony Scaramucci, founder of SkyBridge Capital, has made a significant comparison in the cryptocurrency and technology sectors.
Anthony Scaramucci, founder of SkyBridge Capital, has made a significant comparison in the cryptocurrency and technology sectors.
According to Scaramucci, the potential impact of exchange-traded funds (ETFs) on Bitcoin could reflect the transformative effect of artificial intelligence (AI) on Nvidia’s market valuation.
This statement comes at a time when Nvidia has achieved a notable milestone, surpassing the entire cryptocurrency market in terms of market capitalization.
Meanwhile, Bitcoin has surpassed the $60,000 mark, driven largely by growing interest in Bitcoin ETFs, heralding what many see as a new era for the digital asset.
The meteoric rise of Nvidia
Nvidia’s market capitalization recently surpassed the $2 trillion mark, eclipsing the entire cryptocurrency market valuation of $1.95 trillion.
Nvidia processors, which are at the heart of the most advanced artificial intelligence systems, have become indispensable in a variety of industries, driving an unprecedented surge in the company’s growth.
This increase in Nvidia’s market capitalization has propelled it beyond Amazon, positioning it as the fourth largest company in the world, although still behind giants such as Microsoft and Apple.
“Unreal success”: the rise of Bitcoin ETFs
Parallel to Nvidia’s triumph in the AI domain, Bitcoin has seen a significant rally, with its price exceeding $60,000.
This rise is attributed to growing enthusiasm for Bitcoin ETFs, a development that has not only attracted a wave of investments but also generated optimistic forecasts for the future of the cryptocurrency.
The iShares Bitcoin ETF, in particular, has seen a notable influx of assets, amassing more than $8 billion in less than seven weeks of trading.
This success story is indicative of a broader trend, in which institutional investors and advisors are increasingly looking to allocate resources to these products.
