5 Best Cryptocurrency Stocks to Invest in 2021

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In this article we discuss the 5 best cryptocurrency stocks to invest in 2021. If you want to read our detailed analysis of these stocks, go directly to the 12 Best Cryptocurrency Stocks to Invest in 2021.

5. Square, Inc. (NYSE: SQ)

Number of Hedge Fund Holders: 92    

Square, Inc. (NYSE: SQ) is a payments company that has gained prominence in recent years as one of the biggest institutional backers of cryptocurrencies, holding more than $400 million in crypto-related investments. As such, as Bitcoin fell over the past few weeks, the stock has been one of the most affected on the market. However, the firm has a sound business model and a lot of room to run in markets besides cryptocurrencies until the crypto storm is over. It is ranked fifth on our list of 12 best cryptocurrency stocks to invest in 2021. 

Square, Inc. (NYSE: SQ) stock has returned more than 132% to investors over the past year. On June 4, it climbed more than 3% after CEO Jack Dorsey announced that the firm was exploring the possibility of making and selling a hardware wallet for crypto coins like Bitcoin.

At the end of the first quarter of 2021, 92 hedge funds in the database of Insider Monkey held stakes worth $9.2 billion in Square, Inc. (NYSE: SQ) , up from 89 the preceding quarter worth $8.8 billion.

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