5 Best Cryptocurrencies Redditors are Buying

2. Stellar

Stellar is a cryptocurrency that was released in 2014. The coin has made steady progress over the years and presently had a market cap of over $9 billion. The coin was first geared towards those that wanted to avoid banking. However, in the years since it was launched, the focus has shifted towards helping fintech platforms connect with one another through blockchain technology that makes use of the Stellar coin. 

Stellar can become more mainstream through the crypto-related work of Microsoft Corporation (NASDAQ:MSFT), the Washington-based technology company.

Among the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Microsoft Corporation (NASDAQ:MSFT)  with 24.8 million shares worth more than $6.7 billion.

In its Q1 2021 investor letter, Polen Capital, an investment management firm, highlighted a few stocks and Microsoft Corporation (NASDAQ:MSFT) was one of them. Here is what the fund said:

“We have written extensively about Microsoft in recent commentaries. It was our leading contributor last year and one of our largest weightings within the Portfolio. It continues to experience business momentum through several dominant, essential, and competitively advantaged businesses, like Office 365 and Azure. The markets it competes for are enormous, which gives the company the ability to compound at scale. In the past quarter alone, the company generated over $40 billion in revenue, representing a 17% growth rate. The inherent operating leverage in Microsoft’s business model continues and led to 34% earnings growth this past quarter. Despite the broad rotation we saw in the first quarter and Microsoft’s robust performance in 2020, we think its business fundamentals continue to exhibit strength, and the stock continues to reflect the fundamentals.”