The amount of people investing in cryptocurrency has risen in recent years with many brokers making investing more accessible. One of the best performing cryptocurrencies of 2021 is one of the most well known.
What Happened: The number one cryptocurrency by market capitalization is Bitcoin BTC/USD, with a value of $1.28 trillion.
Bitcoin makes up a significant portion of the $3 trillion market for the entire cryptocurrency industry.
The price of Bitcoin has risen significantly in 2021 and hit new all-time highs of $68,530.34 earlier this week, nearing a possible meme price of $69,420.
Investing $1,000: Bitcoin has been a popular option for investors looking for exposure to cryptocurrency. The asset is readily available on major crypto trading platforms and is accepted as a form of currency in a growing number of places.
Bitcoin even became the official currency of El Salvador earlier this year and is growing in adoption from cities and countries around the world.
Bitcoin traded at a high of $29,600.63 on Jan. 1, 2021. A $1,000 investment in Bitcoin on the first day of the year could have bought 0.0338 BTC.
The hypothetical $1,000 investment would be worth $2,273.98 today, based on a price of $67,277.63 at the time of writing. This would represent a return of 127% in just over 10 months.
Many are calling for Bitcoin to continue its rise in 2021 and the coming years, which could make the $1,000 investment even more valuable.