The precipitous decline in the values of cryptocurrencies and associated stocks in recent weeks has piqued the interest of hedge funds. Digital assets can now be purchased for a lower price and have large upside potential. Several hedge funds have made their crypto holdings publicly available. Grayscale Bitcoin Trust, managed by ARK Investment Management, is one of the world’s largest institutional crypto holdings, valued at almost $450 million. ARK holds investments in publicly traded companies that are positive on cryptocurrencies, such as Tesla, Twitter, Square, and PayPal, in addition to cryptocurrencies. Crypto transactions are accepted by companies including Tesla, Twitter, Square, and PayPal Holdings, Inc.
Here is Insider Monkey’s list of the 10 best cryptocurrencies to invest in according to hedge funds. On the list of the top ten cryptocurrencies to invest in, according to hedge fund billionaires, Stellar is ranked tenth. It allows businesses to conduct huge transactions at minimal costs, saving them a significant amount of money that would otherwise be spent on intermediaries such as banks. For usage in their marketplace, Amazon.com, Inc. accepts crypto-linked gift cards. Binance Coin is primarily used for Binance cryptocurrency trading platform transactions. It is ranked ninth on the list of the top ten cryptocurrencies for hedge funds to invest in. Binance is one of the world’s major cryptocurrency exchanges. In recent weeks, the stock of NVIDIA Corporation has risen to new highs due to a global chip shortage. Tether came in the eighth position in the ranking of the top ten cryptocurrencies for hedge funds to invest in. Tether is one of the most widely used stablecoins, which are digital currencies that strive to reduce price fluctuation. In Western Europe, Mastercard Incorporated recently teamed up with a financial firm to offer crypto-capable payment cards. Hedge fund interest in Tether has risen in response to the price volatility of cryptocurrencies such as Bitcoin. Cardano is ranked seventh on the list of the top ten cryptocurrencies for hedge funds to invest in. FD7 Ventures, based in Dubai, was apparently considering buying Cardano instead of investing $750 million in Bitcoin. DocuSign, Inc., an American technology company, has been instrumental in establishing trust in crypto transactions in the business sphere. Bitcoin Cash is a scalability-improved version of Bitcoin, which means transactions are faster on this network. It is ranked sixth on the list of the top ten cryptocurrencies for hedge funds to invest in. Bitcoin Cash was created as a result of a disagreement between developers and miners over the Bitcoin code itself. Bitcoin Cash has been dubbed a “must-have cryptocurrency” by the head of BKCM LLC, a digital currency investing firm. For more details, click 10 Best Cryptocurrencies to Invest In According to Hedge Funds.
