20 Best Cryptocurrency Stocks to Buy According to Hedge Funds

3. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 142

Mastercard Incorporated (NYSE:MA) is a global payment technology solutions company that serves consumers, small and medium businesses, government and public sector, large enterprises, as well as banks and credit unions. The firm has been making payments smarter and safer for more than 50 years. Mastercard’s purpose revolves around powering an inclusive digital economy that tends to benefit all.

With a global network, the firm has made crypto accessible. In 2022, Mastercard Incorporated (NYSE:MA) introduced Crypto Source to enable financial institutions to bring secure crypto trading services to their customers. In May, Mastercard allowed crypto exchange users to send and receive crypto using their Mastercard Crypto Credential aliases rather than a long blockchain. This allows cross-border and domestic transfers for users in Argentina, Brazil, Chile, France, Guatemala, Mexico, Panama, Paraguay, Peru, Portugal, Spain, Switzerland, and Uruguay across multiple currencies and blockchains.

Mastercard serves as a payments industry leader which has material results to offer. With double-digit net revenue and earnings growth, the firm successfully ended another quarter. Driven by the growth in the payment network and value-added services and solutions, net revenue went up by 11%. The cross-border volume growth of 17% year-over-year and healthy consumer spending supported the company’s results across all business aspects. It continues to position itself for long-term growth by differentiating its products and solutions and diversifying its revenue streams. Back in April, the firm announced an organizational structure realignment centered on three interdependent areas Core Payments, Commercial and New Payment Flows, and Services. While Core Payments works as the company’s foundation, Mastercard finds a scalable opportunity in Payment and data flows beyond consumer card payments. Simultaneously, offerings from Mastercard’s current Cyber & Intelligence, Data & Services, and Open Banking teams remain integrated under Services.

The strong business fundamentals, a diversified business model with healthy consumer spending, established demand for value-added services, and the persistent shift to digital forms of payment place Mastercard in a good market position. As of Q2 2024, the stock is held by 142 hedge funds thereby becoming one of the best cryptocurrency stocks to buy according to hedge funds. Akre Capital Management was the top shareholder with a stake worth $1.7 billion.