Computer hardware manufacturer NVidia’s CEO told mainstream media cryptocurrency “will be here for a long time” in a fresh interview March 29.
“The ability for the world to have a very low-friction, low-cost way of exchanging value is going to be here for a long time – Blockchain will be here for a long time,” he forecast.
The past year has seen Nvidia capitalize considerably on the Bitcoin mining trend as more and more consumers and requisite power get on board as part of the network.
Sentiment nonetheless appeared to wobble this month after competition from China caused a Wall Street analyst to revise growth forecasts down for the company. Despite this, Huang remains distinctly buoyant.
“The reason why cryptocurrency became such a popular thing on top of our GPUs is our GPUs is the world’s largest installed base of distributed supercomputing,” he continued.
“Blockchain requires cryptography and the ability to have a public ledger that is completely immutable, perfectly safe, distributed all over the world. Our processor serves as the perfect processor to enable this supercomputing capability to be distributed. And that’s the reason why it’s used.”
Crypto Investing Risk Warning
Crypto assets are highly volatile. Your capital is at risk.
Don’t invest unless you’re prepared to lose all the money you invest.
This is a high-risk investment, and you should not expect to be protected if something goes wrong.