Billionaires Are Selling Nvidia Stock and Buying an Index Fund That Could Soar Up to 77,675%, According to Wall Street Experts

Artificial intelligence (AI) is one of the hottest themes on Wall Street, and Nvidia has been one of the hottest stocks. Its share price surged 175% over the last year because the company dominates the market for AI chips. But AI is not the only trend that could turn small sums into fortunes.Institutional investors are also betting on cryptocurrency. The hedge fund managers listed below sold shares of Nvidia in the first half of 2024, and they started positions in the iShares Bitcoin Trust (NASDAQ: IBIT), an exchange-traded fund that tracks Bitcoin (CRYPTO: BTC).Those trades are especially noteworthy because Point72, Millennium, Citadel, and D.E. Shaw rank among the 15 best-performing hedge funds in history as measured by net gains since inception. However, all four money managers still have exposure to Nvidia, so it would be wrong to assume they have completely lost conviction in the AI chipmaker.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool