Bitcoin (BTC) Therapy: What If You Invested Your Black Friday Budget in BTC Instead of Retail Therapy?

Fathom this. On Black Friday 2023, you succeeded in taming the shopaholic within you and chose to invest the same amount, $567, in buying the world's most popular cryptocurrency.

Black Friday, the day following Thanksgiving in the United States, is largely recognized for its enticing discounts, incredible deals, and massive sales, kicking off the crucial Christmas shopping season.

Over the years, sales figures from this period have been used to gauge the country's overall economic health and the spending power of the average American.

The traditional one-day shopping frenzy has gradually transformed into a longer season with the introduction of events like “Cyber Monday,” an online equivalent of Black Friday.

What Happened: According to a Deloitte analysis from October, the average expected per-consumer spending during the period from Black Friday to Cyber Monday has grown at a compound annual rate of 9.4% between 2019 and 2024

While surveyed consumers splurged $500 on average in 2022, their spending rose to $567 in 2023, a 13% increase year-over-year.

This year, the average spending is expected to rise to $650, a 15% year-over-year growth.

Now, what if instead of retail therapy, one engaged in Bitcoin BTC/USD therapy?

See Also: Ethereum Rally Gets Overshadowed By Searing Gains In Cheaper Plays: Why Are ENS And ETC Soaring Today?

Imagine this: On Black Friday 2023, you managed to tame the shopaholic within you and chose to invest the same amount, $567, in buying the world's most popular cryptocurrency.

On Nov. 24, 2023, the price of one Bitcoin was $37,720.28. So, an investment of $567 would have fetched you 0.01503 units of the asset.

As we approach this year's Black Friday, the price of Bitcoin has climbed to $95,916.62. This means that your stash would now be valued at $1441.79, reflecting a 154% jump.

No points for guessing that your spending power would have expanded significantly—in fact, more than twice the average estimated figure of $650 indicated above.

Price Action: At the time of writing, it was trading at $2.86, up 13.51% in the last 24 hours, according to data from Benzinga Pro.

Read Next: