2023-05-14 09:14:39
Roses are red, violets are blue, flowers are overrated, does Mom want crypto from you?
If you’re struggling with what to get your mom for Mother’s Day, a gift of cryptocurrency is an option. Here’s a look at whether a gift of crypto on Mother’s Day last year would have been a good investment.
What Happened: Mother’s Day is being celebrated today. While many will get their moms flowers and a card, another option is buying shares of some of the most valuable and most well-known public companies. Others might consider gifting their moms cryptocurrency as a long-term bet on a rebound over the coming years.
Mother’s Day was designated an official holiday by then President Woodrow Wilson in 1914 and is celebrated on the second Sunday of May. Last year, Mother’s Day was celebrated on May 8, 2022. Here’s a look at how an investment and gift in three leading cryptocurrencies at that time would be worth now.
Investing $100 in Bitcoin, Dogecoin, Ethereum: Here’s how much Bitcoin, Dogecoin and Ethereum a $100 investment in each could have bought on May 8, 2022.
Bitcoin: .0028 BTC
Dogecoin: 781.25 DOGE
Ethereum: .0379 ETH
Investing $100 in each cryptocurrency last Mother’s Day would be worth the following based on prices at the time of writing:
Bitcoin: $75.15
Dogecoin: $56.25
Ethereum: $68.39
A $300 gift consisting of the three top cryptocurrencies would be worth $199.79 today, a decline of 33.4%.
While the decline is steep, it is actually an improvement over the 51% decline seen in the same three cryptocurrencies between Mother’s Day 2020 and Mother’s Day 2021.
Those who bought their moms cryptocurrency for Mother’s Day in 2020 would have a different story to tell.
A $100 investment each in Bitcoin, Dogecoin and Ethereum on Mother’s Day 2020 would have been able to buy the following amounts and now be worth the following:
Bitcoin: 0.0104 BTC, $279.14
Dogecoin: 38,270.19 DOGE, $2,755.45
Ethereum: 0.4727 ETH, $852.99