Hedge Funds are Buying Coinbase and These 5 Bitcoin Stocks

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In this article we will take a look at the 5 best crypto stocks to buy right now amid hedge fund interest. For a detailed analysis of the crypto industry, go directly to These Top Hedge Funds are Buying Coinbase and Other Bitcoin Stocks.

5. PayPal Holdings, Inc. (NASDAQ: PYPL)

Number of hedge fund holders: 147

Paypal Holdings, Inc. (NASDAQ: PYPL) is a Palo Alto-based digital payments firm that operates in several countries around the world. The firm has an online system that facilitates the transfer of money across borders without charging high fees. It was founded in 1998 and is placed fifth on our list of 10 best crypto stocks to buy amid hedge fund interest. The share price of PayPal has jumped in recent months as digital payments increase because of the lockdown restrictions put in place to curb the COVID-19 pandemic.

On March 31, PayPal announced that it would let users checkout with cryptocurrency on its platform. On April 25, PayPal CEO Dan Schulman took a bullish tone crypto in a media interview and said that the advent of super apps would hasten the rise of digital currencies. Last week, PayPal launched crypto trading on mobile payments app Venmo. 

Out of the hedge funds being tracked by Insider Monkey, London-based investment firm Fundsmith LLP is a leading shareholder in the firm with 12.3 million shares worth more than $2.8 billion. 

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