5 Best Blockchain Stocks To Buy Now

2. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 165

Visa Inc. (NYSE:V) is another payments giant that has been actively involved in the development and implementation of blockchain-based solutions for its customers. The company has partnered with several blockchain-focused companies in order to develop new technologies and applications and has also launched its own private blockchain network, Visa B2B Connect. This platform is designed to facilitate cross border payments for businesses.Visa Inc. (NYSE:V) is a major player in the blockchain industry and is actively exploring how it can leverage the technology to improve its services and products. The stock is placed on our list of the best blockchain stocks to buy now.

On December 2, Wells Fargo analyst Donald Fandetti raised his price target on Visa Inc. (NYSE:V) to $250 from $225 and reiterated an Overweight rating on the shares.

At the close of the third quarter of 2022, 165 hedge funds held stakes in Visa Inc. (NYSE:V). The total value of these stakes amounted to $22.4 billion. As of September 30, TCI Fund Management is the top investor in the company and has a position worth $3.54 billion.

Here is what Lakehouse Capital had to say about Visa Inc. (NYSE:V) in its third-quarter 2022 investor letter:

“Visa Inc. (NYSE:V) continued its long run of steady growth with both net revenue and earnings per share increasing by 19% year-over-year. The company processed 61.9 billion transactions during the quarter, which drove US$2.9 trillion in total payments volume. The return of travel-related spend post-pandemic continues to be a tailwind for the business and it was pleasing to see cross-border volume growth maintain its recent momentum, up 49% year-over-year, excluding intra-Europe. Management also provided some positive commentary on the macro environment, which was reassuring, especially given the heightened recessionary fears at present. They highlighted stable trends that were relatively broad-based and emphasised stability in e-commerce and a general shift in spending away from goods toward services and experiences. Big picture, we remain long-term holders and believe that the combination of an attractive industry structure and the ongoing secular shift towards digital payments provides a strong foundation that will enable Visa to continue growing at attractive rates for many years to come.”