Billionaire investors shift $20B from Nvidia stock to Bitcoin, driven by spot Bitcoin ETFs.

Billionaire investors are reallocating their portfolios, moving away from Nvidia stock to invest in Bitcoin, spurred by the introduction of spot Bitcoin ETFs in January. Nearly $20 billion has flowed into Bitcoin this year, surpassing other cryptocurrencies. While Nvidia has seen significant gains, Bitcoin's potential for high returns and its growing recognition as a standalone asset class are attracting hedge fund managers, some allocating up to 1% of their portfolios to it.

September 07, 2024
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