Trump’s Bitcoin Superpower Promise Could Help Nvidia: Tech Investor

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Digital assets like Bitcoin could see big success under Trump, with Wall Street wunderkind Nvidia (NVDA) standing a good chance of benefiting.

“I think there are a lot of ways the government could show its support for crypto in the next few months,” EMJ Capital founder Eric Jackson told Yahoo Finance Editor-in-Chief Brian Sozzi on his Opening Bid podcast (video listen above; listen below). “Trump’s talk of establishing a strategic Bitcoin reserve is bullish as an underlying proposition for this currency,” Jackson said.

To that end, Bitcoin surpassed $80,000 for the first time on Sunday as its post-Election Day bullish trend continues. According to data from Yahoo Finance, Bitcoin price has increased by 15% in the last five days.

During the election campaign, Trump did not shy away from expressing his enthusiasm for digital assets. He even promised to make the country a crypto-friendly place and predicted that the US could become the “crypto capital of the planet” in 2024 at this year’s Bitcoin conference.

The president-elect explicitly expressed his desire to make the country a Bitcoin “superpower.”

Crypto will be a big topic at this year’s Yahoo Finance Invest conference – register to attend here

Join one of the original Bitcoin mining games, the AI ​​chip darling Nvidia.

Jackson has been following Nvidia and its development for about seven years. Although Nvidia’s powerful chips gained fame in the gaming space, its products were also crucial to the development of cryptocurrency in its early days.

The company’s graphics processing units (GPUs) are used to support crypto miners due to their speed and efficiency. With demand for crypto potentially picking up under Trump, this could also boost orders for Nvidia’s latest computer chips, in addition to AI and Tesla (TSLA) robot applications.

“Bitcoin mining itself will likely make a comeback if crypto takes off again,” Jackson said.

Jackson believes Nvidia shares could more than double given the company’s strong competitive advantages in chip development over rivals AMD (AMD) and Intel (INTC). It’s an optimistic view shared by Jackson’s colleagues at companies like Bank of America.

“Crypto is becoming this alternative money class,” Jackson added.

One challenge is to make the currency accessible to the masses in a tangible and digestible way.

Jackson envisions support for the digital currency industry under the Trump administration that could include “promoting the approval of all types of ETFs.”

The story continues