5 Best Bitcoin and Blockchain Stocks To Buy Now

3. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 171

Visa Inc. (NYSE:V) functions as a global payment technology firm. Its operations include VisaNet, a transaction processing network that facilitates the approval, processing, and settlement of payment transactions. Visa Inc. (NYSE:V), in collaboration with partners, created a financial platform that enables farmers to securely finance and sell their crop yields through blockchain technology. Visa Inc. (NYSE:V) has also introduced its own blockchain network, known as Visa B2B Connect, for cross-border payment processes. The company ranks high among the best blockchain and bitcoin stocks to buy.

On September 19, Visa Inc. (NYSE:V) announced a partnership with Swift, a financial industry messaging network for international transactions. As part of the collaboration, Visa Inc. (NYSE:V) plans to utilize Swift’s developed features to enhance the speed of cross-border fund transfers.

According to Insider Monkey’s second quarter database, 171 hedge funds were bullish on Visa Inc. (NYSE:V), compared to 173 funds in the previous quarter. Chris Hohn’s TCI Fund Management is the largest position holder in the company, with approximately 17.8 million shares worth $4.2 billion.

Baron FinTech Fund made the following comment about Visa Inc. (NYSE:V) in its second quarter 2023 investor letter:

“We modestly trimmed Visa Inc. (NYSE:V), Mastercard Incorporated, and Accenture plc to manage the position sizes and raise capital to fund purchases elsewhere. These stocks remain full-sized positions and high-conviction ideas in the Fund.

Another fintech industry trend we’re seeing is a pickup in M&A activity, most notably in the payments sector. The year started with Nuvei’s $1.3 billion acquisition of Paya announced in January. In April, Network International received an initial takeover offer from a group of private equity firms, which was then topped by Brookfield Asset Management whose $2.8 billion offer was accepted by the Board in June. Following reports earlier this year of a bidding war between Visa Inc. and Mastercard Incorporated to acquire cloud-based issuer processor and core banking software provider Pismo, Visa announced its intention to acquire the Brazilian company for $1 billion in late June.”