Thanksgiving Dinner Table Conversation: How Cryptocurrencies Have Performed Since Last Year's Holiday

For many Americans across the country, today (Thursday) means meals with families to celebrate the Thanksgiving holiday. One topic of conversation

Thanksgiving Day is here and for many Americans, that means a day of family, food and football.

Dinner conversations could center on school, work, politics and potentially investments like stocks and cryptocurrencies.

The cryptocurrency markets were riding high in November 2021 when Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE) hit then all-time highs.

Family members discussing cryptocurrency that year were likely either supporting a further move up or questioning if investments in crypto were risky.

Now Let's Fast Forward

Family members who tried to talk their relatives into buying cryptocurrencies that year have likely received some questions from relatives in the past year or so with the sector facing high volatility and items such as cryptocurrency bankruptcies sending the price of major cryptocurrencies down in 2022.

As Benzinga previously shared, investing in Bitcoin, Dogecoin and Ethereum on Thanksgiving Day 2021 would have been down 72.3%, 64.6% and 72.5%, respectively a year later.

A $3,000 investment split between the three leading cryptocurrencies would have been down 69.8% to $905.69 from Thanksgiving 2021 to Thanksgiving 2022.

Family members who were convinced to buy cryptocurrency on Thanksgiving Day 2022 or Thanksgiving Day 2023 might have a more favorable attitude towards their crypto friendly relatives.

Investing $1,000 in BTC, DOGE, ETH: If a relative did end up convinced and decided to invest in cryptocurrency for the first time on Thanksgiving Day 2023, they have been blessed with a good entry point.

Here's a look at how investments would have fared over the last nearly one-year period, investing $1,000 in each of Bitcoin, Dogecoin and Ethereum.

A $1,000 investment in Bitcoin on Thanksgiving 2023 could have purchased 0.0266 BTC. The investment would be worth $2,563.18 today based on a price of $96,360.02 at the time of writing. The investment would be up 156.3% since the holiday last year.

A $1,000 investment in Dogecoin on Thanksgiving 2023 could have purchased 13,097.92 DOGE. The investment would be worth $5,261.43 today based on a price of $0.4017 at the time of writing. The investment would be up 426.1% since the holiday last year.

A $1,000 investment in Ethereum on Thanksgiving 2023 could have purchased 0.4789 ETH. The investment would be worth $1,742.85 today based on a price of $3,639.28 at the time of writing. The investment would be up 74.3% since the holiday last year.

In total, a $3,000 investment in the three well-known and discussed cryptocurrencies would be worth $9,567.46 today, up 218.9%.

For comparison a $1,000 investment in the SPDR S&P 500 ETF Trust (NYSE:SPY), which tracks the S&P 500 stock market index, would be worth $1,311.44 and up 31.1% from Thanksgiving 2023 to Thanksgiving 2024.

The returns from 2023 to now outpaced the gains from both 2021 to 2022 and 2022 to 2023.

Last year, Benzinga shared that the returns of Bitcoin, Dogecoin and Ethereum from Thanksgiving 2022 to Thanksgiving 2023 would have been up 123.3%, down 9.2% and up 70.5% respectively. The $3,000 investment from Thanksgiving 2022 to Thanksgiving 2023 would have been worth $4,846.24 and up 61.5%.

The huge returns over the last year could have crypto investors smiling plenty at the Thanksgiving Day dinner table Thursday.

This article was previously published by Benzinga and has been updated.