Billionaire Israel Englander of Millennium Management Just Sold Nvidia and Bought This Popular Cryptocurrency Instead

It's easy to understand why Nvidia (NASDAQ: NVDA) has become the favorite tech stock of many investors. For the year, it's up 192%. And over a five-year period, Nvidia is up a staggering 2,547%.So why is billionaire hedge fund manager Israel Englander of Millennium Management now trimming his position in Nvidia? Perhaps he's found another asset that might end up soaring higher than Nvidia over the long haul, and that's Bitcoin (CRYPTO: BTC). Let's take a closer look at his recent portfolio moves.According to publicly available 13F filings, Englander sold off 1.6 million shares of Nvidia during the most recent quarter, resulting in a 12.5% reduction in his Nvidia position. At the same time, he increased his position in Bitcoin by approximately 120%.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool