Bitcoin vs Nvidia: BTC/NVDA Ratio Down 92% Since 2021 Peak
Bitcoin is down 92% against Nvidia since the BTC/NVDA ratio peaked at 4,836.8 in March 2021. The ratio is now around 360 – closing in on its January 2017 low of about 290. Bitcoin has all but round-tripped its earlier gains over the tech stock.
What is the BTC/NVDA ratio?
The BTC/NVDA ratio divides the bitcoin price by the Nvidia share price. It shows how many shares of Nvidia one bitcoin can buy. When the ratio rises, investors are better off holding bitcoin. When it falls, holding Nvidia stock wins.
A ratio chart strips out the dollar return and shows the relative race between two assets. Both can still rise or fall in dollar terms – the ratio just tells you which one did better.
What the chart is showing now
The January 2017 low of 290 launched the run into the 2021 peak. That was about a 17x move for bitcoin against Nvidia over four years. The ratio is now back near that same launchpad.
Since the 2021 peak, holding bitcoin over Nvidia had a painful opportunity cost. Nvidia rode the AI boom, while bitcoin holders watched the AI trade leave them behind.
But with the ratio now near “support”, the opportunity cost could switch around. If you ask me, I’d rather hold bitcoin than Nvidia from here.
You can pull this ratio up yourself on TradingView by typing “BTCUSD/NVDA” into the symbol search.
As usual, none of this is investment advice. I can be wrong, just like everyone else. To learn more about how to trade support and resistance, check out our Support & Resistance Explained guide.
