5 Best Cryptocurrencies To Invest In For Beginners According To Reddit

4. Shiba Inu

SHIB is called the “DOGECOIN KILLER” and is traded on ShibaSwap, a DEX created by Shiba Inu. Shiba Inu coin was launched by an anonymous person called “Ryoshi” in August 2020. Shiba Inu intends to be the Ethereum-based alternative to Dogecoin, which uses a Scrypt-based mining algorithm. Shiba Inu is one of several dog-themed cryptocurrencies, including Baby Dogecoin (BabyDoge), Dogecoin (DOGE), JINDO INU (JIND), Alaska Inu (LAS), and Alaskan Malamute Token (LASM). This meme coin quickly gained popularity and value as a community of investors was drawn in by the cute appeal of the coin, as well as endorsements from notable figures like Elon Musk and Vitalik Buterin.

American Express Company (NYSE:AXP) is a payment card services company with operations spanning multiple countries. In June 2022, American Express Company (NYSE:AXP) announced that the Abra Crypto Card on the American Express network will conduct transactions in U.S. dollars and provide crypto cashback for purchases made across all categories. Smart investors consider American Express Company (NYSE:AXP) to be among the best stocks to purchase in the crypto market. On February 8, Morgan Stanley analyst Betsy Graseck upgraded American Express Company (NYSE:AXP) to Overweight from Equal Weight with an $186 price target. The analyst named American Express Company (NYSE:AXP) the firm’s new top pick in consumer finance.

According to Insider Monkey’s Q4 data, 71 hedge funds were bullish on American Express Company (NYSE:AXP), compared to 68 funds in the last quarter. Warren Buffett’s Berkshire Hathaway is the biggest stakeholder of the company, with 151.6 million shares worth $22.4 billion. 

In its Q2 2022 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and American Express Company (NYSE:AXP) was one of them. Here is what the fund said:

“In financials, American Express Company (NYSE:AXP) has done an excellent job demonstrating the resiliency of its franchise in the midst of a global pandemic that drove a 60% decline in its core travel and entertainment business. The company’s spend-centric model has been helped by fiscal stimulus ensuring a flush consumer, while management continues to execute well by adding millions of new consumer and small and medium business accounts, which should benefit the franchise over the medium to long term. We remain optimistic regarding the company’s prospects as travel and entertainment activity rebounds, adding to our position in the quarter.”