Wall Street’s ‘dean of valuation’ says digital currencies are replacing gold

  • Aswath Damodaran predicts digital currencies will eventually be as important as the major paper currencies.
  • Santoli asked the valuation expert about bitcoin and other cryptocurrencies.
  • “Cryptocurrencies have taken the role of gold at least for younger investors because they don’t trust paper currencies.”
  • Damodaran defended digital currencies against skeptics who criticized “coin mining” as a misallocation of resources such as computing power and electricity:

    “If you think about it, the printing presses that run paper currencies.

  • The only reason currencies exist is for us to transact … If a digital currency can do it more efficiently than paper currency can, I think there is going to be a digital currency sooner or later that competes with the major paper currencies.

Aswath Damodaran believes digital currencies will “sooner or later” compete with the major paper currencies.
Continue reading “Wall Street’s ‘dean of valuation’ says digital currencies are replacing gold”

Wall Street’s ‘dean of valuation’ says digital currencies are replacing gold

  • Aswath Damodaran predicts digital currencies will eventually be as important as the major paper currencies.
  • Santoli asked the valuation expert about bitcoin and other cryptocurrencies.
  • “Cryptocurrencies have taken the role of gold at least for younger investors because they don’t trust paper currencies.”
  • Damodaran defended digital currencies against skeptics who criticized “coin mining” as a misallocation of resources such as computing power and electricity:

    “If you think about it, the printing presses that run paper currencies.

  • The only reason currencies exist is for us to transact … If a digital currency can do it more efficiently than paper currency can, I think there is going to be a digital currency sooner or later that competes with the major paper currencies.

Aswath Damodaran believes digital currencies will “sooner or later” compete with the major paper currencies.
Continue reading “Wall Street’s ‘dean of valuation’ says digital currencies are replacing gold”

Wall Street’s ‘dean of valuation’ says digital currencies are replacing gold

  • Aswath Damodaran predicts digital currencies will eventually be as important as the major paper currencies.
  • Santoli asked the valuation expert about bitcoin and other cryptocurrencies.
  • “Cryptocurrencies have taken the role of gold at least for younger investors because they don’t trust paper currencies.”
  • Damodaran defended digital currencies against skeptics who criticized “coin mining” as a misallocation of resources such as computing power and electricity:

    “If you think about it, the printing presses that run paper currencies.

  • The only reason currencies exist is for us to transact … If a digital currency can do it more efficiently than paper currency can, I think there is going to be a digital currency sooner or later that competes with the major paper currencies.

Aswath Damodaran believes digital currencies will “sooner or later” compete with the major paper currencies.
Continue reading “Wall Street’s ‘dean of valuation’ says digital currencies are replacing gold”

Nvidia to launch graphics cards specifically designed for digital currency mining

  • Nvidia, the market’s best-performing stock, is going to launch graphics cards specifically designed for cryptocurrency mining through its partners.
  • Product listings for Nvidia-based and AMD-based cryptocurrency mining cards recently appeared on the website of ASUS, a leading maker of graphics cards.
  • ASUS Nvidia-based mining card product page

    Nvidia, AMD and ASUS have not officially announced the digital currency mining cards, according to their website press pages.

  • The dramatic jump in digital currency prices this year is driving demand for Nvidia and AMD graphics cards.
  • AMD told CNBC in early June the “newly resurgent cryptocurrency mining markets” were driving demand for its graphics cards.

Nvidia will release graphic cards specifically designed for cryptocurrency mining through its partners, according to a source familiar with the matter.
Continue reading “Nvidia to launch graphics cards specifically designed for digital currency mining”

Nvidia to launch graphics cards specifically designed for digital currency mining

  • Nvidia, the market’s best-performing stock, is going to launch graphics cards specifically designed for cryptocurrency mining through its partners.
  • Product listings for Nvidia-based and AMD-based cryptocurrency mining cards recently appeared on the website of ASUS, a leading maker of graphics cards.
  • ASUS Nvidia-based mining card product page

    Nvidia, AMD and ASUS have not officially announced the digital currency mining cards, according to their website press pages.

  • The dramatic jump in digital currency prices this year is driving demand for Nvidia and AMD graphics cards.
  • AMD told CNBC in early June the “newly resurgent cryptocurrency mining markets” were driving demand for its graphics cards.

Nvidia will release graphic cards specifically designed for cryptocurrency mining through its partners, according to a source familiar with the matter.
Continue reading “Nvidia to launch graphics cards specifically designed for digital currency mining”

AMD shares are surging with bitcoin because digital-currency ‘miners’ need its graphics cards

  • AMD shares rose as much as 7 percent Tuesday after the company revealed the dramatic jump in digital currency prices is driving demand for its graphics cards.
  • AMD is one of the market’s best performing stocks in the past year with its shares up nearly 170 percent in the past 12 months through Tuesday morning compared with the S&P 500’s 15 percent return.
  • AMD one-year chart

    Source: FactSet

    Cryptocurrency miners use graphics cards from AMD and Nvidia to “mine” new coins, which can then be sold or held for future appreciation.

  • AMD launched the RX 500 series of graphics cards on April 18.
  • Used AMD RX 470 graphics cards are selling for well over $100 list price on eBay.

AMD told CNBC on Monday the “newly resurgent cryptocurrency mining markets” are driving demand for its graphics cards.
Continue reading “AMD shares are surging with bitcoin because digital-currency ‘miners’ need its graphics cards”

AMD shares are surging with bitcoin because digital currency ‘miners’ need its graphics cards

  • AMD shares rose as much as 7 percent Tuesday after the company revealed the dramatic jump in digital currency prices is driving demand for its graphics cards.
  • AMD is one of the market’s best performing stocks in the past year with its shares up nearly 170 percent in the past 12 months through Tuesday morning compared with the S&P 500’s 15 percent return.
  • AMD one-year chart

    Source: FactSet

    Cryptocurrency miners use graphics cards from AMD and Nvidia to “mine” new coins, which can then be sold or held for future appreciation.

  • AMD launched the RX 500 series of graphics cards on April 18.
  • Used AMD RX 470 graphics cards are selling for well over $100 list price on eBay.

AMD told CNBC the “newly resurgent cryptocurrency mining markets” are driving demand for its graphics cards on Monday.
Continue reading “AMD shares are surging with bitcoin because digital currency ‘miners’ need its graphics cards”