5 Best Crypto Stocks To Buy Now

2. PayPal Holdings, Inc. (NASDAQ:PYPL)

Number of Hedge Fund Holders: 123  

PayPal Holdings, Inc. (NASDAQ:PYPL), one of the biggest cross-border payment firms in the world, increased crypto exposure significantly last year. The company allowed the trade of crypto on its platform through a special cryptocurrency service and also made several investments in crypto-focused startups. Evercore ISI has named PayPal Holdings, Inc. (NASDAQ:PYPL) stock among the top picks in the payments sector for 2022. 

At the end of the third quarter of 2021, 123 hedge funds in the database of Insider Monkey held stakes worth $12.8 billion in PayPal Holdings, Inc. (NASDAQ:PYPL), compared to 143 in the preceding quarter worth $16.4 billion.

In its Q4 2020 investor letter, Polen Capital Management, an asset management firm, highlighted a few stocks and PayPal Holdings, Inc. (NASDAQ:PYPL) was one of them. Here is what the fund said:

“For the full year 2020, one of the top performers was PayPal, which we purchased in 2019, the company continues to take market share in digital payments and has seen an acceleration in user adoption and engagement, especially within their “silver tech” or older user demographic. We expect many more years of ongoing double-digit growth from their various business segments and new initiatives.”