5 Best Blockchain Stocks To Buy in 2022

2. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 142

Visa Inc. (NYSE:V) is becoming an early adopter of blockchain and cryptocurrencies, going head-to-head with its rival Mastercard Incorporated (NYSE:MA). Even though the company is not moving as fast as its peers, Visa Inc. (NYSE:V) is constantly innovating to make cryptocurrencies unlock their full potential to deliver more value and access to the crypto ecosystem. The company has added crypto APIs to its offerings to facilitate trading and possession of digital assets. The stock is on an upwards trajectory and is a runner-up for the best blockchain stocks to buy in 2022.

This January, Visa Inc. (NYSE:V) released earnings for the fiscal first quarter of 2021. The company registered an EPS of $1.81 and beat estimates by $0.11. Moreover, the company saw its quarterly revenues grow by 24.13% year over year, coming to $7.06 billion and outperforming market consensus by $265.07 million.

By the end of the fourth quarter of 2021, 142 hedge funds were long Visa Inc. (NYSE:V) having collective stakes of $29.29 billion. This is compared to 143 positions in the previous quarter with stakes of $26.16 billion. As of the end of last December, TCI Fund Management is the leading stakeholder in the company having stakes of more than $5 billion which cover 11.26% of the fund’s Q4 2021 investment portfolio.

Wedgewood Partners holds an optimistic outlook on Visa Inc. (NYSE:V) according to the firm’s first-quarter 2022 investor letter. Here is what the firm said:

“Visa continued to benefit from strong consumer spending as well as a recovery in crossborder payment volumes, more recently driven by the return of travelers. While the emergence of the “Omicron” variant of COVID early in the quarter posed a risk to this travel recovery, it proved short-lived, with most of Europe, North America, and Latin American reengaging in cross-border travel. Visa continues to extend its network to all comers. By processing over $10 trillion in volume per year, Visa has unparallel scale and, as a result, can sell this scale to its customers at very attractive economics. For example, “FinTech” businesses will often charge customers upwards of 3-5% to transact, while Visa takes mere basis points on most transactions, despite enabling service levels historically reserved for only the largest financial institutions. After adding to Visa late last year, we are most pleased that Visa is back to one of our top 5 holdings.”