5 Best Digital Currency Stocks To Buy Now

2. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 137    

Mastercard Incorporated (NYSE:MA) is a technology company that provides transaction processing and other payment-related products and services. On September 22, the company announced that it had provided Hamilton Reserve Bank cross-border payment capabilities to facilitate real-time customer payments in more than 100 countries. Hamilton is based in the Caribbean and expects to process over 20,000 transfers a month in the near future. The partnership allows Mastercard to grow in the region. 

On September 2, Deutsche Bank analyst Bryan Keane maintained a Buy rating on Mastercard Incorporated (NYSE:MA) stock with a price target of $440, noting the firm thought that the blockchain technology was here to stay. 

At the end of the second quarter of 2022, 137 hedge funds in the database of Insider Monkey held stakes worth $14.99 billion in Mastercard Incorporated (NYSE:MA), compared to 136 in the previous quarter worth $15.4 billion.

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Mastercard Incorporated (NYSE:MA) was one of them. Here is what the fund said:

“The Fund’s holdings in the Payments and Information Services themes also contributed to relative performance. Within Payments, lower exposure to this lagging theme and outperformance of Mastercard Incorporated (NYSE:MA) added the most value. These global payment networks are viewed as safe havens during market downturns but are also benefiting from resilient payment volumes and a sharp rebound in international travel.”