“Ethereum Is Going To Be Quite Valuable”

If you weren’t sure the stance for Nvidia CEO Jensen Huang when it comes to Ethereum’s upcoming shift to proof-of-stake, no need to question it further. Huang is clearly optimistic about Ethereum’s future. In an online-only Computex event, he fielded a variety of questions ranging anywhere from his thoughts on the metaverse to global semiconductor shortages.

Huang: A ‘Reasonable Bull’ Perspective

Jensen Huang’s comments around Ethereum in particular showed great optimism. When asked broadly about crypto and the supply and demand constraints around Nvidia products, Huang was clearly excited; “The reason why Ethereum chose our GPUs is because it’s the largest network of distributed supercomputers in the world. It’s programmable. When Bitcoin first came out, it used our GPU”, he said. “Am I excited about proof of stake? The answer is yes”, Huang added. “As we go towards that transition, it’s now established that Ethereum is going to be quite valuable.” He went on to discuss a new Nvidia product, CMP, which can address the crypto mining consumer and put ease on GeForce supply in order to deliver more GeForce products to gaming consumers.

It was still tempered optimism for Huang here, however. When asked later in the session about limiting hash rates in the future, Huang shared more perspective around his thoughts on crypto. “I believe that cryptocurrency is here to stay. It’s a legitimate way that people want to exchange value”, he said. “More important, Ethereum and other forms like it in the future are excellent distributed blockchain methods for securing transactions.” Huang added, “cryptocurrency is going to be here to stay. Ethereum might not be as hot as it is now. In a year’s time it may cool down some. But I think crypto mining is here to stay.”

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