5 Best Cryptocurrencies to Buy for Early Retirement

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1. Bitcoin    

Bitcoin is placed first on our list of 10 best cryptocurrencies to buy for early retirement. It is the largest cryptocurrency in the world in terms of market capitalization. It is a cryptocurrency that operates on a blockchain network through which transactions can be made via verified network nodes. The coin was launched in 2008 and climbed to a record high of around $64,000 in April this year before taking a breather since then. Bitcoin was made by Satoshi Nakamoto, although not much else is known about the identity of the original author. 

One of the largest institutional holders of Bitcoin is Tesla, Inc. (NASDAQ: TSLA), the California-based EV maker that bought more than $1 billion in Bitcoin earlier this year. Tesla, Inc. (NASDAQ: TSLA) has since suspended Bitcoin payments for vehicle sales on the back of environmental concerns over crypto mining operations. 

Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Tesla, Inc. (NASDAQ: TSLA)  with 24.4 million shares worth more than $16.3 billion.

Here is what Baron Partners Fund has to say about Tesla, Inc. (NASDAQ: TSLA) in its Q1 2021 investor letter:

“Tesla, Inc. designs, manufactures, and sells fully electric vehicles, solar products, energy storage solutions, and battery cells. The stock fell during the quarter as a result of general market dynamics and a potential production slowdown due to parts shortages. A refreshed S/X and China Model Y ramp could also have a negative impact on margins in early 2021. We anticipate strong growth and improved margins driven by new production capacity, manufacturing efficiencies, localization of its manufacturing and supply chain, and maturation of Tesla’s full self-driving technology.”

You can also take a peek at 10 Companies that Benefit From Crypto Mining and 10 Best Nickel Stocks to Buy Now.

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