Nvidia CEO Jen-Hsun Huang thinks cryptocurrency is here to stay (Future of Cryptocurrencies)

nvidia

According to the CEO of Nvidia, Jen-Hsun Huang, cryptocurrency is here to stay. He made that statement when he launched the fourth-quarter results of the company for the year 2017. Many of the analysts actually wondered whether cryptocurrency is here to stay. Nvidia and other such semiconductor companies have benefited immensely from the rise of cryptocurrencies. The demand for the rigs has gone through the roof.

Nvidia reported another good quarter. Therefore, investors are worried that cryptocurrency trend reversal can actually impact Nvidia. According to the CEO, they consider the cryptocurrency segment of their business really seriously. They plan on introducing more and more such GPU’s which can be used in the mining of cryptocurrencies. Also, the CEO added that the underlying technology of cryptocurrencies is also pretty strong and would be used all over the world. He further added that millions of virtual services can be created in order to create a global platform with the help of blockchain technology.

Exploiting the blockchain technology:

Even though many of the governments as well as authorities are staying away from cryptocurrencies but the number of authorities which are trying to make use of blockchain technology is ever increasing. None of the governments as well as authorities are debating that the blockchain technology is not good enough.

Profitable mining operations:

Even though mining some cryptocurrencies is not yet profitable but when you look at some of the lesser known cryptocurrencies like Ethereum, mining them is still profitable. This is the reason why miners who are buying and investing in rigs are significant. This is propelling the sales of companies like Nvidia to the next level. Nvidia is not alone in this market. AMD is also beneficiary of the current trend of cryptocurrency mining. With the mining market still going strong, it remains to be seen whether Nvidia is able to capitalize more or not.

Thus, according to the CEO of Nvidia, cryptocurrencies are here stay considering the strong underlying technology. Owing to this very reason, the demand for the rigs as well as other such hardware would be on the higher side.

Recently, the stroke of Nvidia as well as other such semiconductor manufacturing company is increasing significantly as well. The positive effect of the results is getting reflected in the stocks as well. The investors of these companies are pretty happy with the rising trend of cryptocurrency mining. This is the reason why the company is banking big on the cryptocurrency space. Going forward, they would be launching specific GPUs for cryptocurrency mining on the higher end which have a high cash rate. This would further fuel the growth of the company.

Adam Webb is editor in Smartereum, blockchain and currency news, where he produces updates on Blockchain, Ethereum and other alternative cryptocurrencies.

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