For many Americans across the country, today (Thursday) means family meals for celebrate the thanksgiving holiday.
One of the topics of conversation that has likely come up in recent years at family holiday gatherings is cryptocurrency. Here’s a look at how the crypto has performed since Thanksgiving last year.
What happened: For many, the Thanksgiving holiday includes traditions such as family, food and football. Dinner conversations could be about school, work, politics, and potentially investments like stocks. and cryptocurrencies.
Cryptocurrency markets were at their highest in November 2021 when Bitcoin BTC/USD And Ethereum ETH/USD then reached unprecedented heights and Dogecoin DOGE/USD is also up significantly compared to the start of the year.
Family members discussing cryptocurrency that year were likely in favor of further progression or wondering if crypto investments were risky.
Family members who tried to convince their loved ones to buy cryptocurrencies this year have likely received questions from loved ones over the past year as the industry faces high volatility and to things like cryptocurrency bankruptcies that have driven down the price of major cryptocurrencies in 2022.
As Benzinga previously sharedinvesting in Bitcoin, Dogecoin, and Ethereum on Thanksgiving Day 2021 would have been down 72.3%, 64.6%, and 72.5%, respectively, a year later.
A $3,000 investment spread across the top three cryptocurrencies would have declined 69.8% to $905.69 between Thanksgiving 2021 and Thanksgiving 2022.
Family members who were convinced to buy cryptocurrencies on Thanksgiving Day 2022 or Thanksgiving Day 2023 might have a more favorable attitude toward their crypto-friendly loved ones.
Read also: 10 ideas about the American economy for Thanksgiving dinner
Invest $1,000 in BTC, DOGE, ETH: If a loved one is convinced and decides to invest in cryptocurrency for the first time on Thanksgiving Day 2023, they are fortunate to have a good entry point.
Here’s a look at how the investments have fared over the past nearly year-long period, investing $1,000 each in Bitcoin, Dogecoin, and Ethereum.
A $1,000 investment in Bitcoin on Thanksgiving 2023 could have purchased 0.0266 BTC. The investment would be worth $2,563.18 today based on a price of $96,360.02 at the time of writing. Investment is said to be up 156.3% since last year’s holidays.
A $1,000 investment in Dogecoin on Thanksgiving 2023 could have purchased 13,097.92 DOGE. The investment would be worth $5,261.43 today based on a price of $0.4017 at the time of writing. Investment is said to be up 426.1% since last year’s holidays.
A $1,000 investment in Ethereum on Thanksgiving 2023 could have purchased 0.4789 ETH. The investment would be worth $1,742.85 today based on a price of $3,639.28 at the time of writing. Investment would be up 74.3% since last year’s holidays.
In total, a $3,000 investment in the three well-known and discussed cryptocurrencies would be worth $9,567.46 today, up 218.9%.
For comparison, a $1,000 investment in SPDR S&P 500 ETF Trust, which tracks the S&P 500 stock index, would be worth $1,311.44 and up 31.1% from Thanksgiving 2023 to Thanksgiving 2024.
Returns from 2023 to present have exceeded gains from 2021 to 2022 and 2022 to 2023.
Last year, Benzinga said the returns of Bitcoin, Dogecoin, and Ethereum from Thanksgiving 2022 to Thanksgiving 2023 would have been up 123.3%, down 9.2%, and up 70%, respectively. .5%. The $3,000 investment from Thanksgiving 2022 to Thanksgiving 2023 would have been worth $4,846.24 and up 61.5%.
Last year’s huge returns could bring smiles to crypto investors at the Thanksgiving dinner table on Thursday.
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This article was previously published by Benzinga and has been updated.
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