Paul Krugman Ridicules Bitcoin's Store Of Value Narrative, Nobel Winning Economist Makes A Cheeky Comparison With Nvidia
Portfolio Pulse from Aniket Verma
Nobel laureate Paul Krugman ridiculed Bitcoin's store of value narrative, comparing its volatility to NVIDIA Corp. (NASDAQ: NVDA). Krugman highlighted the growing correlation between Bitcoin and technology stocks, questioning Bitcoin's 'digital gold' thesis. Bitcoin was trading at $55,791.75, up 2.55%, while NVIDIA shares ended 6.36% down at $100.45.
August 06, 2024 | 3:48 am
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NVIDIA Corp. (NASDAQ: NVDA) was compared to Bitcoin by Paul Krugman, highlighting its volatility. Shares of NVIDIA ended 6.36% down at $100.45 after Monday’s trading session.
NVIDIA's stock price dropped significantly, and the comparison to Bitcoin's volatility by a prominent economist could further impact investor sentiment negatively in the short term.
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