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 back at the historical returns of several cryptocurrencies on Mother's Day last year.
What Happened: The approval of Bitcoin ETFs by the SEC earlier this year has brought more attention to the cryptocurrency sector and led to rebounding prices.
This means that, if you bought you mom crypto for Mother's Day last year, she might be extra happy to see you this year.
Certainly, flowers and a card are always a thoughtful option for Mother's Day and offer a more stable gift choice compared to the periods of high volatility often seen in the cryptocurrency market.
Mother's Day was designated an official holiday by President Woodrow Wilson in 1914 and is celebrated on the second Sunday of May. Last year, Mother's Day was celebrated on May 14, 2023. Here's a look at how an investment and gift in three leading cryptocurrencies at that time would be worth now.
Related Link: Mother's Day 2024: Heartfelt Ways To Make Mom's Day Special, No Matter The Distance
Investing $100 in Bitcoin, Dogecoin, Ethereum: Here's how much a $100 investment in each of Bitcoin (CRYPTO: BTC), Dogecoin (CRYPTO: DOGE) and Ethereum (CRYPTO: ETH) could have bought on May 14, 2023.
Bitcoin: 0.0037 BTC
Dogecoin: 1,377.75 DOGE
Ethereum: 0.0548 ETH
Investing $100 in each cryptocurrency last Mother's Day would be worth the following based on prices at the time of writing:
Bitcoin: $226.33
Dogecoin: $199.60
Ethereum: $160.67
A $300 gift consisting of the three well-known cryptocurrencies would be worth $586.60 today, a gain of 95.5%.
Compare that return to a loss of 33.4% from Mother's Day 2022 to Mother's Day 2023 and a loss of 51% from Mother's Day 2021 to Mother's Day 2022.
Of course those who bought their moms cryptocurrency back on Mother's Day 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 would be worth the following:
Bitcoin: 0.0104 BTC, $636.16
Dogecoin: 38,270.19 DOGE, $5,544.28
Ethereum: 0.4727 ETH, $1,385.89
The $300 investment or gift to mom on Mother's Day 2020 would be worth $7,566.33 today and up 2,422.1%.
This article was previously published by Benzinga and has been updated.
Photo: Shutterstock