Bitcoin may be making headlines for hitting an all-time high after the US presidential election, but an even more impressive success story is unfolding. As the world’s most popular cryptocurrency approaches the $100,000 milestone, Nvidia (NASDAQ:NVDA) has significantly outperformed Bitcoin over the past five years.
Don’t miss:
Bitcoin has had an incredible year. Since the 2024 presidential election, the stock has been on a meteoric rise, recently reaching $93,434.36 and approaching the long-awaited six-figure mark.
Changing regulations, growing institutional interest, and especially pro-crypto sentiments from the future US leadership have all contributed to Bitcoin’s rise. Many analysts now expect the price to reach $100,000 sooner rather than later, and the enthusiasm is clear.
Popular: ‘Scrolling Through UBI’ — Deloitte’s fastest growing software company allows users to make money on their phones. Valuation will change next week, but you can invest TODAY for as little as $0.25/share with a minimum of $1000.
But while Bitcoin is getting attention, Nvidia stock is outperforming it. On November 14, Nvidia’s stock price closed at $146.27, a staggering 2,768% increase over the previous five years. To put things in perspective, Bitcoin is up about 973% in that time, which is remarkable, but still significantly less than Nvidia’s massive growth.
The technology sector now relies heavily on Nvidia. Their specialist chips are in high demand as artificial intelligence (AI) becomes a more important part of everything from data centers to consumer goods. The company has experienced exponential growth and the stock price has followed suit.
See also: The global games market is expected to generate $272 billion by the end of the year – at $0.55/share, this VC-backed startup with a user base of over 7 million investors provides easy access to this asset market.
One of Nvidia’s recent achievements is replacing Intel in the Dow Jones Industrial Average. This action highlights the ongoing transition to AI technology and firmly establishes Nvidia as a major force in the technology sector. With a market cap of $3.43 trillion, Nvidia recently surpassed Apple to become the most valuable company in the world.
Analysts have remained bullish on Nvidia, citing its continued dominance in AI chips and the growth of AI technology in general. The company’s future looks bright, with analysts setting price targets that suggest even more upside potential for investors.
While Bitcoin’s climb to the highest point in history is undoubtedly cause for celebration, Nvidia’s performance over the past five years is truly remarkable. While both Nvidia and Bitcoin have brought investors tremendous profits, Nvidia is one of the market leaders due to its steady expansion and rising demand for products. Use Benzinga Pro to stay on top of the latest NVIDIA options trades with real-time alerts.
Read next:
Next: Transform your trading with Benzinga Edge’s unique market trading ideas and tools. Click now to access unique insights which can give you an edge in today’s competitive market.
Want the latest stock analysis from Benzinga?
This article Bitcoin Hits an All-Time High, But Nvidia Has Dramatically Surpassed It in the Past Five Years originally appeared on Benzinga.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
