Bitcoin and its strong performance has been one of the biggest investing stories of 2020. Investors continue to pour more money into cryptocurrency. Here’s how well bitcoin performed in 2020.
Bitcoin Performance: Bitcoin has surged in price and hit all-time highs in December.
Investors who put $1,000 in bitcoin on Jan. 1, 2020, would have been able to purchase .13966 bitcoin based on a starting price of $7,160.
Bitcoin traded at $23,605 on Dec. 23, which would make that .13966 Bitcoin worth $3,296.67. That represents a return of 230% on the original theoretical investment.
The SPDR S&P 500 SPY, which tracks the S&P 500 and is one of the most popular ETFs, is up 15% in 2020.
The performance of bitcoin in 2020 has outpaced the broader market and popular large caps like Apple Inc AAPL and Amazon.com AMZN, which have year-to-date gains of 80% and 75%, respectively.
Shares of Tesla Inc TSLA are up over 660% in 2020, beating the performance of bitcoin.
Lolli, which rewards consumers with bitcoin for shopping, tweeted that putting a $1,200 stimulus check into bitcoin would be worth $4,146 as of Dec. 22.
Related Link: 8 Stocks To Play Bitcoin’s Resurgence
Stock Performance: Many of the stocks associated with bitcoin have surged in 2020, including miners and cryptocurrency trading platforms.
The Grayscale Bitcoin Trust GBTC, which offers investors exposure to bitcoin, is up 271% in 2020 and has seen large inflows.
MicroStrategy Incorporated MSTR has made headlines in 2020 for putting its cash into bitcoin and also raising money to buy additional bitcoin. The company has spent over $1.1 billion in 2020 on bitcoin and now owns 70,470 bitcoin.
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