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Now that the holiday season is over and most families can be sure that all of their children have received gifts, they take a moment to reflect on some classic traditions of gift giving. Other than popular items like toys, clothes, and gift cards, crypto has now become offer is a novel gift option. With the cryptocurrency market surging during 2024, Bitcoin, Dogecoin and Ethereum are central to the gifting craze to exchange digital assets this Christmas.
Christmas 2023 gifts of cryptocurrencies have delivered returns so astonishing, they’ve demonstrated growing interest in digital assets as holiday gifts. This article looks at how much Bitcoin, Dogecoin, Ethereum are worth today, if you invest just $100 in them when you left them in Christmas. And how much more it is than traditional investment.
2023: A Turnaround Year for Cryptocurrencies
The year 2023 was the year the wheel of the cryptocurrency market had to be transformed around. The bad year for crypto in 2022 was full of plead bankruptcy for many crypto platforms, major coins crashing, but the year is now 2023 and there has actually been a real recovery from it.
These drivers included new investor confidence, regulatory clarity and strong market performance driving the comeback. Though after results of the election came in, that momentum kept going through until 2024 when many cryptocurrencies reached all time highs after the election. A new White House administration that has declared its wariness of erecting barriers to crypto has also buoyed market hopefuls.
As this was the case, cryptocurrencies made 2023 Christmas a popular and rewarding time, becoming a good and rewarding gift, compared to stocks and gold.
Investing $100 in Bitcoin, Dogecoin, and Ethereum in 2023
It’s time to dive further into how investing $100 into each of Bitcoin (BTC), Dogecoin (DOGE), and Ethereum (ETH) on Dec. 25, 2023, has fared for the past year. Based on intraday high prices from that date, here’s what $100 could have purchased:
- Bitcoin: 0.0023 BTC
- Dogecoin: 1,050.78 DOGE
- Ethereum: 0.0434 ETH
As of today, the values of these investments have surged, delivering impressive returns:
- Bitcoin: $225.46, a 125.5% increase
- Dogecoin: $349.17, a 249.2% increase
- Ethereum: $150.68, a 50.9% increase
Had you donated a paltry $100 each of the 300 cryptocurrencies, your contribution will now be the equivalent of $725.32, an increase of 141.8%.
Comparing Returns with 2022 and Traditional Investments
By 2024, more bitcoin was garnered than in the four Christmas (Christmas period) quarters between Christmas 2022 and Christmas 2023. What if, instead of investing just $300, you had committed to investing $300 on Christmas 2022 and simply looked forward to making an 86.5% return on a Christmas 2023 Christmas 2023 Christmas 2022 Christmas 2022 investment — and had $559.61 on Christmas 2023.
From that two year trend we can tell that the growth of digital assets are growing. This Christmas, an investor would have $2,015.30 with an investment of $300 in 2022 and another of $300 in 2023. A 235.9% gain if you had put that same money in two years or so ago.
In fact, traditional investments have returned relatively meager returns. A Return of 26.5% Imagine that you invested $300 in the SPDR S&P 500 ETF Trust (the ETF that tracks the S&P 500 Index) on Christmas and it’s now worth $379.48, a 26.5% return.
Other than that, cryptocurrencies also outperformed gold, historically a safe haven asset. Perhaps surprisingly, in the last five years, gold has increased around 83% while Bitcoin, Dogecoin and Ethereum made returns in the year that were certainly much higher.
Why Cryptocurrency Gifts Make Sense
Cryptocurrencies offer several advantages as gifts, making them an appealing alternative to traditional options:
- High Growth Potential: If cryptocurrency proves itself, then over the course of time outstanding profits can be derived.
- Ease of Transfer: Digital asset like that can be easy to move from one wallet to another and don’t need to be handled physically.
- Innovative Appeal: That’s how gifting cryptocurrency plays in getting others to the big digital finance world and spreading awareness and involvement.
- Versatility: As cryptocurrencies are flexible usage for transactions, for investment etc., the recipient also has such freedom.
Cryptocurrencies are also a thoughtful and potentially rewarding gift choice in Detroit areas for tech savvy family members looking to give a gift or some personal exposure to the ups and downs of the financial markets.
A Gift That Keeps on Giving
For those who were gifted Bitcoin, Doge, or Ethereum during Christmas 2023, it has been an excellent return in the last twelve months. A $300 cryptocurrency gift was received with excitement as it grew to be $725.32, giving people appreciable returns.
Cryptocurrencies have also been established to be capable of outcompeting the traditional asset classes such as stocks and gold, therefore making them to offer a good package that should attract the technologistic as well as the investment inclined individuals as other gifts. But, similar to all other financial asset potentials givers should consider the risks usually given to beneficiaries who should be capable of managing and understanding digital assets.
As the cryptocurrency market is still developing, gifting cryptocurrencies might turn into another popular tradition similar to the Christmas gifts but will introduce the concept of the financial future to the receivers.
