Bitcoin (BTC) and Nvidia (NVDA) are two assets which shocked everyone with their performance. Between May 22, 2019, and May 22, 2024, NVDA has returned 2,402.6% and BTC has returned 782.4%. Despite their robust performance, analysts usually doubt these asset’s valuations.
Nvidia (NVDA)
Nvidia Corporation (NVDA:NASDAQ), is known for its robust GPUs and has transcended the gaming industry. Venturing into sectors like AI, data centers, and automotive tech, Nvidia has become a key figure in multiple emerging fields.
The company’s shares have witnessed notable appreciation, propelled by AI and machine learning’s growing significance in tech progress.
On May 22, Nvidia published its Q1 financial results. The revenue increased by 18% from the previous quarter and by 262% from the same period last year, surpassing the analyst predictions of $24.6 Billion. This growth was driven by increased demand in the gaming and professional visualization segments.
Following the earnings report, NVDA stock prices soared to a record high in after-hours trading on May 22, reaching just above $1,000 and pushing its market capitalization to over $2.5 Trillion.
Bitcoin
Turning to Bitcoin‘s journey, the premier cryptocurrency has been synonymous with both high risk and exceptional gains since its inception in 2009. Bitcoin has outshone various conventional investment vehicles, despite its price’s dramatic swings.
Following its peak in late 2021, Bitcoin‘s value dipped amidst regulatory and market stability worries. Yet, the foremost digital currency regained traction towards the end of the beginning of 2024, buoyed by the anticipated nod for a Bitcoin spot ETF.
On March 14, Bitcoin hit a record peak of approximately $73,750, only to pare back some gains amid escalating global tensions and heightened investor prudence.
Moreover, analysts are speculating that Bitcoin (BTC) could reach the level of 100K before 2024 ends.
Bitcoin VS NVDA
When we look at the Bitcoin vs NVDA chart we may observe that after May 2021 Nvidia surpassed Bitcoin in terms of returns.
Source: statmuse
From May 22, 2019, to May 22, 2024, NVDA has generated a return of 2,402.6% for the investors and Bitcoin (BTC) has generated a return of 782.4%. Hence, last 5 years NVDA gave more returns as compared to Bitcoin.
Nvidia Getting Bigger and Bigger
Recently, the Kobeissi Letter pointed out that NVDA is now trading with a market cap above $2.5 Trillion for the first time in history.
BREAKING: Nvidia stock, $NVDA, is now trading with a market cap above $2.5 TRILLION for the first time in history.
— The Kobeissi Letter (@KobeissiLetter) May 22, 2024
To put this in perspective, Nvidia is now larger than Tesla and Amazon COMBINED.
Furthermore, Nvidia is now larger than the entire German stock market.
Nvidia is… pic.twitter.com/Uaj9mgFoML
To provide some context, Nvidia‘s market cap now surpasses that of Tesla and Amazon combined. In addition, Nvidia’s market cap is now larger than that of the entire German stock market, as well as the combined market caps of the Italian and Australian stock markets.
Just five years ago, Nvidia‘s market cap was only $100 Billion. As of now, it is the third largest public company in the world and is just 17% away from surpassing Apple in market cap.
