5 Best Cryptocurrencies Redditors are Buying

4. Monero

Monero is a cryptocurrency launched in 2014 that is famous for the privacy-first features it offers in relation to other coins. One key way in which the currency does that is by making senders and receivers anonymous by changing their digital addresses and hiding transaction details. Another advantage that the coin has is that it is fungible, which essentially means that two coins can be substituted in value without any difference. 

Monero is a solid investment for those looking to enter the crypto universe, just like Tesla, Inc. (NASDAQ:TSLA), an EV maker that has also invested heavily in the new technology. 

At the end of the second quarter of 2021, 60 hedge funds in the database of Insider Monkey held stakes worth $9 billion in Tesla, Inc. (NASDAQ:TSLA), down from 62 in the previous quarter worth $10 billion.

Here is what Baron Partners Fund has to say about Tesla, Inc. (NASDAQ:TSLA) in its Q1 2021 investor letter:

“Tesla, Inc. designs, manufactures, and sells fully electric vehicles, solar products, energy storage solutions, and battery cells. The stock fell during the quarter as a result of general market dynamics and a potential production slowdown due to parts shortages. A refreshed S/X and China Model Y ramp could also have a negative impact on margins in early 2021. We anticipate strong growth and improved margins driven by new production capacity, manufacturing efficiencies, localization of its manufacturing and supply chain, and maturation of Tesla’s full self-driving technology.”