Prominent Investors Dump Nvidia, Bet Big on Bitcoin
Several prominent investors, including Ken Griffin and Israel Englander, have recently sold a significant portion of their Nvidia shares. They are now redirecting their investments towards the iShares Bitcoin Trust, a move that could have substantial implications for the crypto market.
Ken Griffin, CEO of Citadel Advisors, sold approximately 2.4 million Nvidia shares, reducing his stake by 68 percent. Similarly, Israel Englander of Millennium Management sold over 720,000 shares, a 35 percent decrease. David Shaw of DE Shaw also sold 1.4 million shares, marking a 38 percent reduction in his position.
These investors are now focusing on the iShares Bitcoin Trust. The Best of Krypto Index by BÖRSE ONLINE, which includes the ten largest crypto-coins weighted by market capitalization, suggests a growing interest in cryptocurrencies. Analysts predict the bitcoin price could reach $1 million by 2030, with Cathie Wood of Ark Invest even forecasting a $1.5 million valuation, indicating a potential growth of over 2000 percent from current btc price levels. Institutional investors are increasingly turning to spot Bitcoin ETFs, which could drive the bitcoin price usd to new heights.
The shift in investment strategy by prominent figures like Ken Griffin, Israel Englander, and David Shaw from Nvidia to the iShares Bitcoin Trust signals a significant vote of confidence in the crypto market. As institutional investors continue to explore spot Bitcoin ETFs, the future of bitcoin's valuation remains promising.
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