5 Best Bitcoin Stocks to Buy Now

2. Advanced Micro Devices, Inc. (NASDAQ: AMD)

Number of Hedge Fund Holders: 74

GPU giant Advanced Micro Devices, Inc. (NASDAQ: AMD) ranks 2th in our list of 10 best bitcoin stocks to buy now. Founded in 1969, the California-based tech firm became one of the largest manufacturers of semiconductors and integrated graphic processing units globally. The company’s best mix of CPU and GPU technologies accelerate and secure blockchain transactions such as Bitcoin. 

The company has a market cap of $99.2 billion. AMD’s revenue in the first quarter of 2021 came in at $3.4 billion, up 93% from $1.8 billion in the same period in 2020. As high-end Radeon graphics devices are widely used in cryptocurrency mining, AMD’s GPU average selling price increased year over year and quarter over quarter. Mizuho keeps its buy rating on Advanced Micro Devices and raises its price target to $107 in April. Shares of AMD jumped 64% over the past twelve months. 

There were 74 hedge funds that reported owning stakes in Advanced Micro Devices, Inc. at the end of the fourth quarter, up from 71 funds a quarter earlier. The total value of these stakes at the end of Q4 is $6.68 billion. Out of the hedge funds being tracked by Insider Monkey, Washington-based money management firm Fisher Asset Management is the leading shareholder in the company with 9,526,397 shares worth more than $747.8 million. 

Artisan Mid Cap Fund, in their Q4 2020 investor letter, mentioned Advanced Micro Devices, Inc. (NASDAQ: AMD). Here is what Artisan Mid Cap Fund has to say about Advanced Micro Devices, Inc. in their Q4 2020 investor letter: