5 Best Blockchain Stocks to Buy

2. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 86

Any mention of the blockchain or cryptocurrency sector without NVIDIA Corporation (NASDAQ:NVDA) would be incomplete as its graphics processing units (GPUs) sit at the very heart of blockchain processing. NVIDIA Corporation (NASDAQ:NVDA) has been at the center of the Bitcoin boom and has seen its fortunes fall and rise in tandem with the cryptocurrency. It offers customized GPUs for miners and its products are some of the most popular in the sector.

Harding Loevner, an investment management firm, had the following to say about NVIDIA Corporation (NASDAQ:NVDA) in its second quarter investor letter:

“Within IT, shares of US-based computer chip developer NVIDIA continued their climb as rising demand across segments-from work-from-home laptops to data centers to cryptocurrency mining rigs-led to shortages that translated into surging prices for its chips. Such was the windfall that NVIDIA even made technical changes to some of its products to make them towards waht it believes are more sustainable uses. Less attractive to cryptocurrency miners, to steer scarce supply viewed by geography, the lion’s share of excess returns came from good stock performance in the US. In addition to the contributions from NVIDIA and our health care holdings, a pair of IT software and service providers also aided relative returns.”