Was Nvidia’s CEO Taken Out? The Bitcoin Link No One Is Talking About! | Truth Block

Hurley (0:00)

Why does Bitcoin dump every time Nvidia does? This morning, Jenssen Huang resigned as the CEO of the biggest company in the AI revolution. 33 years at the company he built, and he was gone 4 days after admitting to an affair. Nvidia opened down 14%, and Bitcoin fell right along with it, falling under 72k. A chip company lost its CEO, so why is the hardest money on earth paying for it? Well, it turns out 3 months ago, Huang became the loudest voice in America for open source AI. And a lot of very powerful people need AI to stay closed. Meanwhile, Wall Street's index makers came for its biggest buyer. And a former White House official says the government has dumped Bitcoin before, in ways that looked designed to hurt the price. Today, I'll show you who wanted Jenset and Hwang gone, and why this same fight is coming for your Bitcoin. This is TruthBlock. I'm Hurley.

Let's mine truth.

Alright, lots to get into today. This one is a doozy. But before we dig in, tell me in the comments, do you think Jenset Hwang was taken out? And if so, by who? And if you're not subscribed to Simply Bitcoin yet, what are you waiting for? Hit that subscribe button so you don't miss the latest market updates and the high signal analysis. Alright, let's get into it. Let's start with how fast this all happened. Because the speed is the part that feels off. On October 29th, the New York Times reported that Hwang had a close relationship with a woman US intelligence believes is a Chinese spy. Then this past Sunday, he admitted to an affair in an email to the whole company. And Nvidia's board hired an outside law firm to investigate. On Wednesday evening, a second story dropped about another relationship, this time with one of his own executives. And within minutes, the Wall Street Journal reported the board was getting ready to push him out. And by this morning, he was gone. He's no longer the CEO, he's no longer the president, and he's off the board effective immediately. So the man who co-founded Nvidia in 1993 and ran it for 33 years was removed in four days. And as Anthony Pompliano pointed out, the board forced him out before its own investigation was even finished. So what's the point of an investigation if the verdict is already in? The most powerful CEOs in the world almost never fall. And when they do, it doesn't look like this.

Plenty of them have had affairs, some of them very publicly, and they kept their jobs.

So why was this one different? And what was the rush? Now Nvidia opened down 14% this morning, and Bitcoin is sitting just under $72,000.

That's below its 200-day moving average and about 43% off its all-time high. We'll get to Bitcoin, but first we have to ask the obvious question. Who has the most to gain from Jensen Huang's exit? So let's follow the incentives. Until this summer, Huang wasn't even on X.

Then on July 24th, he joined, and his very first post was a letter defending open AI models, the kind anyone can download, inspect and run on their own machine. 25 companies signed it, and the letter warned that locking advanced AI behind a handful of closed models leaves the most important technology of our lifetime in the hands of a few providers. Two of the biggest names in AI never signed the letter, Anthropic and Google. And Anthropic, whose entire business is a closed model, kicked off the roadshow for one of the biggest IPOs in history this Tuesday. That was two days before Huang was out. Very interesting timing. Because what does Nvidia actually sell?

It sells the chips, and it doesn't care whose model runs on them. So every open model running on somebody's own hardware is another customer for Nvidia and a direct threat to any company that makes its money selling access to a closed one. The biggest company in AI and the closed labs and supplies were pulling in opposite directions, and the man leading the open side is now gone. But Microsoft and Meta signed that letter too, and nobody's coming after Nadella or Mark Zuckerberg.

So why Huang? Simon Dixon is an early Bitcoin investor and the author of Bank to the Future. And he answered that on BTC Sessions in a conversation recorded before the resignation.

Simon Dixon (3:51)

The interesting thing about Nvidia that I'll be watching is there's a couple of, if you look at the Magnificent 7, now Magnificent 10, with OpenAI and also SpaceX and Anthropic, the other OPIs. Let's call that the Magnificent 10 now. If you look at those Magnificent 10, the companies that don't have supermajority board shares are actually one of the only ones, is the largest market capitalized company in the world, Nvidia. So he actually only has 2-3 percent of the shares, and he doesn't have superior voting rights. So he's easy to regime change.