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One of the annual Christmas traditions for most families is giving and receiving gifts. While popular gift items include toys, clothing, gift cards and money, another option is to give the gift of cryptocurrency.
Here’s a look back at how much a cryptocurrency gift for Christmas in 2023 would be worth today.
What happened: Like Mother’s Day, Christmas is a holiday that offers many choices 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. In 2022, several cryptocurrency platforms went bankrupt and all major cryptocurrencies traded less this year.
In 2023, cryptocurrencies turned around, with many of the largest cryptos outperforming the top stocks and the overall broad stock market.
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Fast forward to 2024 and the cryptocurrency market has grown tremendously, with several of the largest cryptos hitting new all-time highs after the 2024 elections. A new White House administration has created optimism among investors and crypto proponents.
Here’s a look back at how much three major cryptocurrencies given as gifts for Christmas 2023 would be worth today.
Invest $100 in Bitcoin, Dogecoin, Ethereum: A popular gift amount was giving $100 in cryptocurrency to a loved one on Christmas Day 2023. Here’s how much of it someone could have bought Bitcoin (CRYPTO: BTC), Dogecoin (CRYPTO: DOGE) and Ethereum (CRYPTO: ETH) based on the intraday high on December 25, 2023.
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Bitcoin: 0.0023 BTC
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Dogecoin: 1,050.78 DOGE
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Ethereum: 0.0434 ETH
See also: Over the past five years, the price of gold has increased by approximately 83% — Investors like Bill O’Reilly and Rudy Giuliani use this platform to creating custom gold IRAs to protect their savings from inflation and economic turbulence.
A $100 investment in any cryptocurrency last Christmas would be worth the following, based on prices at the time of writing:
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Bitcoin: $225.46, +125.5%
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Dogecoin: $349.17, +249.2%
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Ethereum: $150.68, +50.9%
A $300 gift made up of the three cryptocurrencies would be worth $725.32 today, an increase of 141.8%.
This return from Christmas 2023 to Christmas 2024 exceeds 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 past year.
For comparison, an investment of $300 last Christmas in the SPDR S&P 500 ETF Trustwhich tracks the S&P 500 Index would be worth $379.48 today. This amounts to a return of 26.5%.
The holidays would likely be happier for loved ones who received the gift of cryptocurrency last year rather than lots of clothes, gift cards, cash or stocks.
Based on Benzinga’s calculations for the hypothetical Bitcoin investments, Dogecoin and Ethereum would have converted $300 in 2022 and $300 in 2023 over the last two Christmases for a total of $2,015.30. This represents a 235.9% gain 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 worth of Bitcoin, Dogecoin and Ethereum last Christmas, here’s how much they would have had this Christmas. Originally appeared on Benzinga.com
