Investors who have put money into major U.S. indices have enjoyed respectable returns since the bottom of the market in March 2020. In fact, the SPDR S&P 500 ETF SPY, Invesco QQQ Trust Series 1 QQQ and SPDR Dow Jones Industrial Average ETF Trust DIA have returned 79.73%, 80.22% and 71.64% since then.
As good as investors in the major U.S. indices have had it of late, cryptocurrencies have performed that much better. Cryptocurrency bulls who bought when U.S. markets bottomed out in March 2020 and held on for the long-term, despite the ongoing volatility, have been treated to epic returns on their investment.
Winners Since March 2020: Here’s how much $100 in each of the following cryptocurrencies back at the bottom of the U.S. market in March 2020 would be worth today:
- Bitcoin BTC/USD: $562.86
- Ethereum ETH/USD: $1,460.95
- Dogecoin DOGE/USD: $4,693.03
- Cardano ADA/USD: $2,483.56
It’s no secret Tesla Inc TSLA CEO Elon Musk’s antics related to Dogecoin on Twitter Inc TWTR have resulted in massive price fluctuations for the meme crypto. In a year when the broader cryptocurrency market has fallen sharply, it remains to be seen if Musk’s tweeting about Dogecoin can sustain further gains in the near term.