Love’s in the air! Celebrated on Feb. 14, Valentine's Day is the time of the year when we honor affection and connection in its various forms.
The event traces its origins to a Christian feast day honoring a martyr named Valentine. Over time, it has evolved into a global cultural and commercial celebration of love, with people generously splurging on flowers, chocolates, and greeting cards for their significant other.
What happened: According to estimates by the National Retail Federation, Americans are projected to spend nearly $189 on average on gifts for Valentine’s Day this year, up from $185.81 in 2024. The total spending was expected to hit a record $27.5 billion.
The most popular gift categories were candy, flowers, greeting cards, evening outs, and jewelry.
For those that value thrift and prudence rather than the occasional splurge, you'd have found it comforting had you made a Bitcoin BTC/USD investment a year ago.
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During last year's Valentine’s Day, one Bitcoin traded at $49,733.44. So, if you invested $100, you would have received 0.00201 units of the asset.
As we approach this year’s Valentine's Day, the price of Bitcoin has risen to $96,863.91, meaning that your $100 investment would have turned into $194.76, marking a 94% increase. This amount exceeds what the average American spends on the day of love.
Regardless of the missed opportunity, remember to cherish the people you hold dear, whether it’s a romantic partner, a close friend, or a beloved family member on this special day.
Price Action: At the time of writing, Bitcoin was exchanging hands at $96,863.91, up 0.86% in the last 24 hours, according to data from Benzinga Pro.
Photo Courtesy: ORION PRODUCTION On Shutterstock.com
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