“Crypto is a real thing – it’s not going to go away.” Jen-Hsun Huang, the CEO of Nvidia, is still bullish on cryptocurrency. Cryptocurrency demand from Nvidia beat expectations, but the market remains small.
Speaking with Barron’s in an interview, Huang said that “clearly, there’s a lot of talk about crypto.” Lots of demand for the firm’s products and the long-term prospects Nvidia faces is uniquely tied to cryptocurrencies. After all, demand for Nvidia’s GPU’s became sky-high, something that was complained about by the gaming community, because of cryptocurrencies.
Huang said: “Crypto was a real part of our business this past quarter, even though small, overall.” He also talked about the benefits of cryptocurrencies and blockchain technology, saying there is “clearly real utility”. He expanded on this idea saying:
“And as you know, tens of millions of virtual goods are created and shared and sold in virtual reality, and people invest thousands of hours to create space ships in space that they battle against each other. So, the concept of virtual goods and virtual worlds and virtual currency all ties together.”
To Huang, however, conversation about miners is not that important for Nvidia, saying “to us, it’s all just demand for GPUs”.