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Billionaires Sell Nvidia Stock and Buy a BlackRock ETF Wall Street Experts Say Could Soar Up to 12,160%
Nvidia (NASDAQ: NVDA) has been a shining star of the artificial intelligence (AI) boom. Its 912% return since January 2023 is the second best in the S&P 500 (SNPINDEX: ^GSPC). Yet the following hedge fund managers listed sold Nvidia and bought the iShares Bitcoin Trust (NASDAQ: IBIT) in the first quarter:Investors should know a few things about those trades. Griffin and Cohen run two of the most profitable funds in history, so they are good sources of inspiration. However, readers should interpret them selling Nvidia as a total loss of confidence in the company. Instead, it is a reminder that portfolio diversification matters.Also, the iShares Bitcoin Trust is an exchange-traded fund (ETF) issued by the largest asset manager in the world, BlackRock. It tracks the price of Bitcoin (CRYPTO: BTC), and several analysts expect a windfall for Bitcoin holders in the years ahead. The most bullish forecast implies 12,160% upside by 2045.Continue reading
Nvidia (NASDAQ: NVDA) has been a shining star of the artificial intelligence (AI) boom. Its 912% return since January 2023 is the second best in the S&P 500 (SNPINDEX: ^GSPC). Yet the following hedge fund managers listed sold Nvidia and bought the iShares Bitcoin Trust (NASDAQ: IBIT) in the first quarter:
Investors should know a few things about those trades. Griffin and Cohen run two of the most profitable funds in history, so they are good sources of inspiration. However, readers should interpret them selling Nvidia as a total loss of confidence in the company. Instead, it is a reminder that portfolio diversification matters.
Also, the iShares Bitcoin Trust is an exchange-traded fund (ETF) issued by the largest asset manager in the world, BlackRock. It tracks the price of Bitcoin (CRYPTO: BTC), and several analysts expect a windfall for Bitcoin holders in the years ahead. The most bullish forecast implies 12,160% upside by 2045.
