5 Biggest Companies and Hedge Funds Bullish on Ethereum

3. Microsoft Corporation (NASDAQ: MSFT)

Number of Hedge Fund Holders: 258

Microsoft Corporation (NASDAQ: MSFT) is a Washington-based technology company founded in 1975. It is placed third on our list of top 10 companies bullish on Ethereum. The software giant was among the first tech firms that allowed blockchain-based payments, and in 2019, created a mint, named Azure Blockchain Tokens, to help enterprises with Ethereum tokens. Several big firms, including a game developing company and a virtual reality equipment manufacturer, were among the first users of the new mint. 

On May 18, Microsoft Corporation (NASDAQ: MSFT) confirmed in a blog post that a rumored Windows 10X won’t be released. Instead, the firm said it would leverage learnings and accelerate the integration of key foundational 10X technology into other products. 

Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Microsoft Corporation (NASDAQ: MSFT) with 23.3 million shares worth more than $5.2 billion.

In its Q1 2021 investor letter, Polen Capital, an investment management firm, highlighted a few stocks and Microsoft Corporation (NASDAQ: MSFT) was one of them. Here is what the fund said:

“We have written extensively about Microsoft in recent commentaries. It was our leading contributor last year and one of our largest weightings within the Portfolio. It continues to experience business momentum through several dominant, essential, and competitively advantaged businesses, like Office 365 and Azure. The markets it competes for are enormous, which gives the company the ability to compound at scale. In the past quarter alone, the company generated over $40 billion in revenue, representing a 17% growth rate. The inherent operating leverage in Microsoft’s business model continues and led to 34% earnings growth this past quarter. Despite the broad rotation we saw in the first quarter and Microsoft’s robust performance in 2020, we think its business fundamentals continue to exhibit strength, and the stock continues to reflect the fundamentals.”