In recent years, the rising prominence of Bitcoin as a viable financial instrument has been undeniable. That has led major companies like Elon Musk’s Tesla (TSLA) to buy and hold the leading cryptocurrency. Subsequently, recent reports have signaled that Nvidia (NVDA) may be the next company to have added Bitcoin to its balance sheet.
The AI chipmaker is among the most important companies in the world. For much of 2024, it was the most valuable company and had long been projected to surpass a $4 trillion market cap. The question is, are the rumors true about the firm purchasing BTC at some point this year?
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Is Nvidia the Latest Company to Buy In On Bitcoin?
Michael Saylor’s Strategy emerged as perhaps the first company to truly embrace a Bitcoin accumulation strategy. The move sparked increased interest across the business world, as companies like Microsoft (MSFT) considered such action. Indeed, now the digital asset sector is constantly on the lookout for companies that may have followed a similar path.
Earlier this month, a rumor began to swirl around on X (formerly Twitter) that Nvidia added Bitcoin to its balance sheet. Specifically, it was substantiated by the belief that it viewed the asset as a hedge against inflation and a struggling dollar. The clearest place to look for answers is its most recent earnings report.
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Nvidia had reported $39.3 billion in revenue through its Q4 2024 report. However, it had failed to report any kind of Bitcoin or cryptocurrency investment. Additionally, there has yet to be any substantial evidence that corroborates the belief that the AI firm has added Bitcoin.
That leaves the claim with a lack of evidence and is likely false. The only real hope for a turnaround lies in its upcoming earnings report in late May. That could showcase some Bitcoin purchases that verify what has been reported. Until then, it remains a rumor.
Moreover, with a lack of US Securities and Exchange Commission (SEC) filings, it is unlikely to have been the case. Although that may change in the future, to this point, Nvidia has not yet added Bitcoin to its balance sheet.