If you’re struggling with what to get your mom for Mother’s Day this year, a gift of crypto is one item to consider. The timing of the purchase could have a huge impact on whether Mom ends up making money or losing part of the gift’s value along the way.
What Happened: Mother’s Day 2022 is celebrated on Sunday, May 8, 2022. The holiday was signed as an official holiday in 1914 by then President Woodrow Wilson. Each year, the second Sunday of the month of May is celebrated as Mother’s Day.
Mother’s Day is meant to honor mothers and is typically a day that includes calling moms, visiting with moms and the buying of gifts for mothers or mother figures.
Gifts for moms often include cards, flowers, personalized items and gift cards. For those thinking outside the box, gifts could include investments in stocks or cryptocurrency.
Mother’s Day 2021 was celebrated on May 9, which was at a time when cryptocurrencies were one of the biggest topics in the world and could have been a popular gift for holidays and anniversaries. Here’s how a gift of cryptocurrency would have fared.
Investing $100 In Bitcoin, Dogecoin, Ethereum: While not everyone spends $300 on their mother each year for Mother’s Day, this article will use the amount to determine how much a $100 investment in each of Bitcoin BTC/USD, Dogecoin DOGE/USD and Ethereum ETH/USD is worth now.
Here’s how much a $100 investment on May 9, 2021 could have bought of each cryptocurrency at its high price:
- Bitcoin: 0.0017 BTC
- Dogecoin: 143.3435 DOGE
- Ethereum: .0251 ETH
Investing $100 in each cryptocurrency on last year’s Mother’s Day would be worth the following based on the prices at the time of writing:
- Bitcoin: $61.08
- Dogecoin: $18.55
- Ethereum: $67.49
The $300 gift of three top cryptocurrencies for mom would be worth $147.12 today, a decline of 51%.
While the gift of $300 in cryptocurrency would be down from last year, a person who bought their mom $300 in cryptocurrency on Mother’s Day in 2020 would likely be getting a big thank you from mom.
A $100 investment in Bitcoin, Dogecoin and Ethereum on Mother’s Day 2020 would have been able to buy the following amounts of each cryptocurrency:
- Bitcoin: 0.0104 BTC
- Dogecoin: 38,270.19 DOGE
- Ethereum: 0.4727 ETH
Those three investments would be worth the following two years later:
- Bitcoin: $373.68
- Dogecoin: $4,952.16
- Ethereum: $1,271.01
The $300 investment on Mother’s Day 2020 would be worth $6,596.85 today, representing a return of 2,099% in two years.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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