The CEO of Nvidia, one of the world's leading artificial intelligence chip manufacturers, made an important statement regarding Bitcoin (BTC).
During a panel discussion on artificial intelligence and energy, Nvidia CEO Jensen Huang highlighted Bitcoin's transformative role in converting surplus energy into a new form of currency.
Nvidia CEO said Bitcoin is not an environmental burden and described BTC as a mechanism to convert unused electricity into globally transferable assets.
At this point, Huang argues, BTC effectively converts excess energy into a portable financial asset.
According to him, unused electricity from power plants and the renewable energy sector can be used instead of wasted by converting it into digital assets through mining. In this case, surplus energy is instantly converted into BTC through mining, turning it into an unlimited form of value that can be exported. In other words, Bitcoin is not just “digital money” but energy converted into an asset.
“Bitcoin is a tool to convert idle or surplus energy into money.”
Bitcoin extracts surplus energy, stores it as currency, and allows that energy to be moved anywhere in the world in the form of digital currency.
These statements are in fact completely consistent with the views of Tesla and SpaceX founder Elon Musk, who claims that Bitcoin will replace fiat currencies due to its intrinsic value tied to energy consumption. He points out that more than 50% of Bitcoin mining is currently done using renewable energy.
Musk said Bitcoin is a true energy-based money, reliable and immutable of energy. “Energy is a real currency. That's why I say Bitcoin is energy-based.”
*This is not investment advice.
