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One of the annual traditions of Christmas for most families is the giving and receiving of gifts. While popular gift items include toys, clothes, gift cards, and money, another option is to give a gift of cryptocurrency.
Here’s a look back at how much a gift of cryptocurrency for Christmas in 2023 would be worth today.
What Happened : Just like Mother’s Day, Christmas is a holiday that could see the selection of gifts for loved ones in your family.
Giving cryptocurrency as a gift at Christmas 2023 may have been a more popular option than in 2022. The 2022 year saw several cryptocurrency platforms go bankrupt and all the major cryptocurrencies trade down on the year.
In 2023, cryptocurrencies turned around with many of the largest cryptos outperforming the top stocks and overall broad stock market.
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Fast forward to 2024 and the cryptocurrency market has been surging with several of the largest cryptos hitting new all-time highs after the 2024 election . A new White House administration has created optimism for investors and crypto advocates.
Here’s a look back at how much three major cryptocurrencies given as gifts for Christmas 2023 would be worth today.
Investing $100 in Bitcoin, Dogecoin, Ethereum: A popular gift amount may have been giving $100 in cryptocurrency to a loved one on Christmas Day 2023. Here’s a look at how much one could have bought of Bitcoin (CRYPTO: BTC ), Dogecoin (CRYPTO: DOGE ) and Ethereum (CRYPTO: ETH ) based on the intraday high on Dec. 25, 2023.
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Investing $100 in each cryptocurrency last Christmas would be worth the following based on prices at the time of writing:
A $300 gift consisting of the three cryptocurrencies would be worth $725.32 today, an increase of 141.8%.
This return from Christmas 2023 to Christmas 2024 trumps the return of the three cryptocurrencies from Christmas 2022 to Christmas 2023 when the same $300 would have turned into $559.61 in one year, an increase of 86.5%.
Family members would likely welcome the return of any of these three cryptocurrencies over the last year.
For comparison, a $300 investment last Christmas in the SPDR S&P 500 ETF Trust , which tracks the S&P 500 Index, would be worth $379.48 today. This represents a return of 26.5%.
The holidays would likely be happier for loved ones who got cryptocurrency as a gift last year than many clothes, gift cards, cash, or stocks.
Based on Benzinga's calculations for the hypothetical investments in Bitcoin, Dogecoin and Ethereum over the last two Christmases would have turned $300 in 2022 and $300 in 2023 into $2,015.30 total. This represents a gain of 235.9% on the $600 investment over the last two Christmases.
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This article was previously published by Benzinga and has been updated.
Photo by SvetlanaParnikova on Shutterstock
This article If You Gifted Your Family $100 In Bitcoin, Dogecoin And Ethereum Last Christmas, Here's How Much They Would've Had This Christmas originally appeared on Benzinga.com
