The emergence of Crypto into wide acceptance was roaring in 2021. Without fail, it gained sufficient traction as an alternative investment to stock, shares, ETFs, and other capital and money market instrument.
A famous quote by the legendary investor Warren Buffet, “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”Looking back at 2021, we would in this post look at what $1,000 in frontline crypto could have turned out to be in your portfolio.
Let’s go over the best cryptocurrencies to invest in right now, shall we?
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Expectedly, we’d want to get this out of the way because it is the most familiar and priciest coin on the market. At the start of 2021, Bitcoin was just over $27k but had since, with many sudden and sharp spikes and slowdowns, increased 73% YTD, putting the coin price just under $51,000. The market cap currently sits at $966 billion (for comparative, this is above Facebook’s market cap), suggesting Bitcoin has come to stay and dominate the market.
Ethereum is a less known cryptocurrency name than Bitcoin; however, without a doubt, any investor who knows Bitcoin is more than likely aware of Ethereum as a strong contender. Just three days shy of a year ago, Ethereum traded at $731 per coin, and with many gallops through the year 2021, it has managed to put itself at a coin price of $3,705, representing a 417% growth. In layman’s terms, your $1,000 in Ethereum at the start of the year could have $4,170. Talking about quadrupling your money without breaking a sweat to work for it.
Here comes a coin for the traders with a high-risk appetite following the trend of high volatility and enjoying the game of rumors and sharp movements. Well, whatever grammar and ills we hear of Dogecoin, it has appreciated in the past year to the tune of 3771%. Meaning that your $1,000 invested in Dogecoin could have earned robustly to become $37,771. It feels like a royal mint right here but doesn’t consider that I do not believe in the business model or invest my money in it.
Another winner in the books towering as high as 605% year over year, making your $1,000 invested about $6,050 today. It feels like a worthwhile investment in hindsight, but that’s what retrospections are meant for – to reveal opportunity costs for inaction.
With about $50B in market cap, Cardano is on my watchlist and investment bucket for 2022. Let’s see what the year will bring in terms of Crypto
Solana is a formidable rival of the Ethereum crypto, but its 2021 price growth is a sure winner. It is hard to fathom, but just $1,000 in Solana 365 days ago would be upwards of $100k as things stand today. To be exact, Solana has grown 10,319% from this time last year according to Coinbase, ranks number 4 on Crypto popularity.
1,256% is the magic number. As the arithmetic goes, your $1,000 invested in Binance coin a year ago would have rolled up so much gold dust to become $12,560. Binance is more a Crypto exchange company where you can buy and sell Crypto but do have their Binance coin. The market cap is $80B, which underlines how strong the company has become.
While there are not definite in the crypto world, we know it has come to stay. Some commentators hint that companies are hiring crypto experts into their workforce to be sufficiently prepared for the possible future of currency for the exchange of transactions.
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