The return of popular cryptocurrencies like Bitcoin, Dogecoin, and Ethereum since last Christmas has been impressive. Optimism from the 2024 presidential election has contributed to their surge. Like gifts under the tree, these digital presents can bring joy and returns to loved ones.
In 2023, giving cryptocurrency as a gift was more appealing than in 2022 due to the market’s downturn. However, by 2024, cryptos have rebounded, outperforming top stocks and the overall broad stock market. The new White House administration has created optimism for investors, driving growth.
Investing $100 in Bitcoin, Dogecoin, or Ethereum on Christmas Day 2023 would be worth significantly more today. A Bitcoin investment would grow to $225.46, with a return of 125.5%. Dogecoin would increase by 249.2% to $349.17, while Ethereum would rise by 50.9% to $150.68. The combined value of a $300 gift in these three cryptocurrencies would be worth $725.32 today.
This year’s returns far exceed those from the previous Christmas, when investing $300 in the same cryptos would have grown to $559.61. In comparison, a $300 investment in the SPDR S&P 500 ETF Trust would have returned $379.48, with a gain of 26.5%.
Cryptocurrency gifts are proving to be a more lucrative option than traditional presents like clothes, gift cards, cash, or stocks this holiday season.
Source: https://www.benzinga.com/general/education/24/12/42678116/if-you-gifted-your-family-100-in-bitcoin-dogecoin-and-ethereum-last-christmas-heres-how-much-they-would-have-this-christmas-2