All the altcoins and Bitcoins enjoyed a record-breaking 2017, along with them chipmakers like Nvidia also benefited from the crypto boom.
Not only Nvidia but public companies like AMS, whose chips power Cryptocurrency mining hardware, and other companies that make ASIC chips for Bitcoin benefited as well.
Nvidia was the top performer on S&P 500 in the chip manufacturer category. Its share price saw a 100% rise in 2017 and Goldman Sachs believes that growth will bubble continue into 2018.
“Crypto is a real thing — it’s not going to go away.”
Says Jen-Hsun Huang, chief executive of graphics card maker Nvidia. The company said on an earnings call Thursday that demand from Cryptocurrency miners for its product beat expectations but that overall, that market segment remains a small one.
“And crypto was a real part of our business this past quarter, even though small, overall,” the Nvidia CEO said.
“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.
A big factor in this projected growth was the recent launch of Nvidia’s new Volta-powered Titan V graphics card in December 2017.
These kinds of news become the biggest reason for Bitcoin boom. These are positive indications to what Bitcoin will be in the coming future and why people can count on it.