3 Best Cryptocurrencies Redditors Are Buying

2. USD Coin 

USD Coin is a stablecoin pegged to the U.S. dollar on a 1:1 basis. Each coin in circulation is accompanied by $1 held in reserve, in a combination of cash and short-term U.S. Treasury bonds. USD Coins are issued by regulated financial institutions. USD Coin is working to develop an ecosystem where the currency will be accepted by multiple wallets, crypto exchanges, service providers, and decentralized apps.

Cryptocurrencies like USD Coin are supported by firms like Mastercard Incorporated (NYSE:MA), which allow customers to use digital currencies for daily transactions. Mastercard Incorporated (NYSE:MA) also helps blockchain and digital asset companies with operational scalability. According to Insider Monkey’s data, 137 hedge funds were bullish on Mastercard Incorporated (NYSE:MA) at the end of Q2 2022, compared to 136 funds in the prior quarter. Charles Akre’s Akre Capital Management is the leading stakeholder of the company, with 5.8 million shares worth $1.8 billion. 

Here is what Baron Fintech Fund has to say about Mastercard Incorporated (NYSE:MA) in its Q2 2022 investor letter:

“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.”