5 Crypto Stocks for 2022

1. Meta Platforms, Inc. (NASDAQ:FB)

Number of Hedge Funds: 248

Meta Platforms, Inc. (NASDAQ:FB), formerly known as Facebook Inc., was a pioneer in Web 2.0 as it allowed users to create and share information online. However, since 2014, the world is now pivoting itself to Web 3.0, a term coined by Ethereum co-founder Gavin Wood. Web 3.0 is based on the premise that there should not be any centralized monitoring. Instead, users should have the ability to communicate and join forces without the presence of a single authority. This thought has given way to blockchain technology and DeFi.

Meta Platforms, Inc. (NASDAQ:FB) is gearing itself up for Web 3.0 by working on its new cryptocurrency known as Diem, previously known as Libra. The California-based tech giant is building a global financial payment system backed by the needed infrastructure that is decentralized and can be accessed from anyone or anywhere in the world. Along with this, Meta Platforms, Inc. (NASDAQ:FB) is also working on Move smart contract programming language.

Canterbury Tollgate mentioned Meta Platforms, Inc. (NASDAQ:FB) in its Q3 2021 investor letter. Here’s what the investment management firm said:

“To say traditional media is anti-Facebook would not be an overstatement. An already intense and multi-year critique of (or attack on) Facebook has ratcheted up in recent weeks. Facebook’s research efforts have been reported on, if often derided, for nearly a decade. Going back to 2014, Slate.com called their research practices “unethical” when FB tried to study the impact social posts had on users. Now those efforts have been turned against them for the kill shot.

My job is to observe, assess, and allocate. Not to commentate on all the whims and wishes of media narrative. However, in the case of Facebook I cannot avoid going into some detail re: the onslaught against them, which I find to be most unwarranted and insincere.

Last month the Wall Street Journal ran a five-piece series titled “The Facebook Files” which allegedly shows how toxic Instagram is for teens. The foundation of their argument was a single slide from an internal presentation claiming, based on FB’s own research, that of teens who had a negative self-image, one-third said Instagram “made them feel worse.”iii Somehow the implication here is that this is not an inescapable aspect of either the human psyche and/or society-atlarge, but that it is of Facebook’s doing…” (Click here to see the full text)

You can also take a peek at the Billionaire Israel Englander is Buying These 10 Stocks and 10 Canadian Dividend Stocks to Buy.

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