It’s been a great time investing for the past five years. Virtually anything that has affected investors has turned into gold since 2016 and the SPDR S&P 500 ETF (NYSE: SPY) the total return over that piece was 120.1%.
However, cryptocurrencies have left the stock market in the dust for the past five years. Despite their extreme volatility and a boom in 2017 and 2018, cryptocurrency investors who bought five years ago and held on long-term have made tremendous overall profits.
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Five-year winners: Many cryptocurrencies caught fire in 2021, and some experts and analysts believe cryptocurrencies have actually replaced gold as the preferred inflation hedge among younger investors. Here’s how much $ 1,000 invested in each of the following cryptocurrencies in 2016 will be worth today.
- Ethereum (CRYPTO: ETH), $ 273,716.
- Bitcoin (CRYPTO: BTC), $ 148,194.
- Litecoin (CRYPTO: LTC), $ 87,900.
- XRP (CRYPTO: XRP), $ 267,900.
- Dogecoin (CRYPTO: DOGE), $ 1.03 million.
Benzinga’s name: If you are one of the many investors who have committed a murder in the cryptocurrency market over the past five years, you should definitely feel proud of your financial achievements, especially if you had the foresight to buy some of the above cryptocurrencies. .
However, one of the easiest things to do in the financial world is to make money during a bull market, so make sure you always manage the risk in an appropriate way and be prepared for the next downturn in the crypto market like in 2018.
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