Hedge Funds are Buying Coinbase and These 5 Bitcoin Stocks

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1. Coinbase Global, Inc. (NASDAQ: COIN

Coinbase Global, Inc. (NASDAQ: COIN) is a California-based cryptocurrency exchange platform. It was founded in 2012 by billionaire Brian Armstrong and is placed first on our list of 10 best crypto stocks to buy amid hedge fund interest. Coinbase went public earlier this month and presently has a market cap of more than $58 billion. It posed close to $450 million in revenue in the last quarter of 2020. The company acts as a platform to let users buy, sell, and store digital currencies like Bitcoin and Ethereum. 

The firm has engaged in more than $335 billion worth of crypto transactions from more than 100 countries. It has 56 million users, of which at least 6 million are active on the exchange every month. The public listing of Coinbase has been described as a critical moment for the crypto industry that will help in making the new payments technology mainstream. Coinbase has attracted hedge fund interest in recent days, as Third Point LLC and Ark Investment Management bet big on the company. A more clear picture of hedge fund holdings in the company would be disclosed very soon as hedge funds begin to report their Q1’2021 13F data.

You can also take a peek at 10 Best Biotech Stocks To Buy For 2021, and Top 10 Best Freelancing Platforms and Websites for 2021.

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