If You Invested In Bitcoin What You Spent Hosting Thanksgiving Dinner In 2023, Here's How Much You'd Have This Holiday Season
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What could be better than a sumptuous Thanksgiving dinner? The roasted turkey, the delicious side dishes, the mouthwatering dessert, and some good old apple cider.
But hosting the dinner might sting a little, with expenses rising year after year.
Can Thanksgiving Costs Fuel Bitcoin Investment Choices?
Thanksgiving is a widely celebrated holiday in the U.S., centered around giving thanks and sharing a large meal with family and friends. This year, it falls on Nov. 27.
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This year, according to a LendingTree survey, the average American is expected to spend about $487 on food, drinks and decor, up 13% from last year and 34% from 2023.
With the costs of hosting the dinner rising, 19% of the people surveyed said they may reconsider doing so next year.
|
Average 2023 Thanksgiving Cost |
Average 2024 Thanksgiving Cost |
Average 2025 Thanksgiving Cost |
|
$362 |
$431 |
$487 |
While Thanksgiving dinner may be eating into your budget, a few assets have been fattening wallets instead.
Take Bitcoin (CRYPTO: BTC) for example. On Thanksgiving Day 2023, the apex cryptocurrency was worth $37,289.62 each. Today it’s worth 133% more.
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So, if you invested the same money in Bitcoin as you did in organizing a Thanksgiving dinner in 2023, i.e, $362, it’d have grown to $844.12 today, enough to host a feast in 2025 without breaking the bank.
This remains the case even after Bitcoin descended from its all-time high of $126,198.07 last month amid a sharp market correction.
|
Cryptocurrency |
Price (Recorded on Nov. 23, 2023) |
Price (Recorded at 5 a.m. ET) |
Gains +/- |
|
Bitcoin |
$37,289.62
|
$86,952.92 |
+133.183% |
Photo courtesy: Shutterstock
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