Nvidia Corp. Chief Executive Officer Jensen Huang believes Ethereum has already established itself and will only be more valuable in the future, BusinessInsider reported.
- Huang said Ethereum has the room to grow further due to the services built on top of it. Transactions can be sped up, and its value will only increase with the number of investors built on top of it.
- Huang’s optimism is driven by the legitimacy of the digital token, saying it has a lot of credibility and it works well with a lot of investors depending on it for decentralized finance.
- Nvidia has deliberately reduced the performance of its graphics processing unit. It offers a specialized crypto mining processor version, while a GeForce will be able to mine crypto but with reduced performance.
- Huang said Ethereum may cool down in a year, but crypto mining is going to stay. Blockchain will be needed for fundamental value which could be mined.
Nvidia is boosting its supply chain amid the global shortage of semiconductors. Strong demand is expected from niche markets. NVDA is down 0.75%; while ETH/USD is up 8.36%.