The year 2021 could go down as the year of many things, including another year that cryptocurrency became more of a mainstream topic and investment.
As cryptocurrencies became more talked about, many also gained in value in 2021, including three of the most popular names.
Here’s a look at how Bitcoin, Dogecoin and Ethereum have peformed from the start of 2021 to now.
What Happened: Bitcoin (CRYPTO: BTC) gained throughout 2021 and was added to the balance sheet of Tesla Inc (NASDAQ: NASDAQ:TSLA), Block Inc (NYSE: SQ) and other publicly traded companies during the year.
Dogecoin (CRYPTO: DOGE) was one of the most searched for cryptocurrencies in 2021 and exploded in value thanks to popular names like Elon Musk and Mark Cuban publicly supporting the “meme crypto.”
Ethereum (CRYPTO: ETH) gained in popularity and usage with the rising trend of non-fungible tokens, with many utilizing the Ethereum blockchain.
Related Link: 2021 Was The Year Of Dogecoin: A Month By Month Retrospective With Top Stories
Investing $1,000 in BTC, DOGE, ETH: A $1,000 investment in each of the three most popular cryptocurrencies would have proven to be a winning trade in 2021. Here’s a look at how a hypothetical investment ended in 2021 for each of the three mentioned cryptocurrencies.
Bitcoin traded at a high of $29,600.62 on Jan. 1, 2021. A $1,000 investment in Bitcoin on the first day of the year could have bought 0.0338 BTC. Bitcoin ended 2021 at a price of $46,306.45. The $1,000 investment ended 2021 worth $1,565.16. At the time of writing, the $1,000 in Bitcoin would be wroth $667.68.
Dogecoin traded at a high of $0.005685 on Jan. 1, 2021. A $1,000 investment in Dogecoin on the first day of the year could have bought 175,901 DOGE. Dogecoin ended 2021 at a price of $0.1705. The $1,000 investment ended 2021 worth $29,991.12. At the time of writing, the $1,000 in Dogecoin would be worth $10,939.28.
Ethereum traded at a high of $749.20 on Jan. 1, 2021. A $1,000 investment in Ethereum on the first day of the year could have bought 1.3348 ETH. Ethereum ended 2021 at a price of $3,682.63. The $1,000 investment ended 2021 worth $4,915.57. At the time of writing, the $1,000 in Ethereum would be worth $2,074.63.
Investing $1,000 in each of the three coins on Jan. 1, 2021 would have ended 2021 at a valuation of $36,471.85.
Through Sep. 3, 2022, the hypothetical investments in the three well-known cryptocurrencies would be worth $13,681.59. While this is down significantly from the 2021 year end values, it is also still up 1,268% since the start of 2021. The value of Bitcoin is down around 33% from the start of 2021 and Ethereum and Dogecoin remain up over 100% from the start of 2021.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.